South Carolina Commission on Higher Education Committee Agenda June 2024
Teacher Loan Program Administration Budget Recommended for Approval
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Description
The Committee recommended approval of the FY2024-25 administrative operating budget for the SC Teachers Loan Program to be managed by South Carolina Student Loan Corporation, totaling $539,270. This includes administrative costs and servicing fees adjustment.
Contract Details
Contract Amount
$539,270
Vendor
SOUTH CAROLINA STUDENT LOAN CORPORATION
Agency
South Carolina Commission on Higher Education, SC
Contract Type
FINANCIAL_SERVICES
Document Date
June 6, 2024
Contract Term
FY2024-25
Renewal Date
2025-06-30
Renewal Info
Annual contract, subject to annual budget approval. Contains 3% increase in administrative expenses and 26% decrease in third-party servicing fees for FY2024-25.
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