The South Carolina defense scholarship fund is hereby created for which the sum of one hundred twenty thousand dollars is hereby appropriated from the general fund for the fiscal year 1962-1963. Additional appropriations to the fund may be made in annual general appropriation acts. The State Fiscal Accountability Authority shall administer the fund and shall allocate to State-supported institutions of higher learning which have elected to make loans to students under the provisions of subchapter II of chapter 17 of Title 20, United States Code, Annotated, their equitable share of the funds appropriated, so as to enable the institutions to contribute to the fund created as required by Federal law, a sum equal to one ninth of the total Federal capital contributed. The allocations made to institutions of higher learning shall be deemed loans by the State to the institutions and payment on the loans shall be made as directed by the State Fiscal Accountability Authority. Interest on the loans shall not exceed three per cent per annum.
Appropriations to the South Carolina defense scholarship fund may also be used for participation as loan guarantees provided under the college reserve program of the United Student Aid Funds, Incorporated.
HISTORY: 1962 Code Section 22-57; 1962 (52) 1979; 1964 (53) 2307.
Structure South Carolina Code of Laws
Section 59-111-15. Tuition assistance for permanent faculty and staff.
Section 59-111-20. Free tuition for certain veterans' children.
Section 59-111-25. Scholarships exempted from mid-year budget reduction.
Section 59-111-30. South Carolina defense scholarship fund.
Section 59-111-50. Persons defaulting on certain student loans precluded from employment by State.
Section 59-111-75. College loan program for National Guard members.
Section 59-111-120. "Fireman" defined.
Section 59-111-130. "Law enforcement officer" defined.
Section 59-111-140. "Corrections officer" defined.
Section 59-111-145. "Government employee" defined.
Section 59-111-150. "State-supported college or university" defined.
Section 59-111-160. "Total disability" defined.
Section 59-111-170. Application for free tuition.
Section 59-111-180. Penalties for misrepresenting eligibility.
Section 59-111-310. "Tuition" defined.
Section 59-111-320. Persons age sixty and over may attend classes without payment of tuition.
Section 59-111-330. Rules and regulations.
Section 59-111-340. Institutions to which article applies.
Section 59-111-350. Persons attending under article not counted in computing enrollment.
Section 59-111-360. Proof of eligibility.
Section 59-111-370. Penalties for misrepresenting eligibility.
Section 59-111-510. Medical and Dental Loan Fund.
Section 59-111-520. Consideration of applications and granting of loans.
Section 59-111-530. Amounts and conditions of loans or scholarships.
Section 59-111-540. Loan contracts.
Section 59-111-560. Penalty for failure to complete contract.
Section 59-111-570. Deposits and disbursements.
Section 59-111-580. Rules and regulations.
Section 59-111-710. "Qualifying institution" or "institution" defined.
Section 59-111-760. Annual accounting of funds; reports.
Section 59-111-770. Final disbursements from fund; dissolution of fund.