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State nonprofit outlines loan, grant and employer‑partner programs to reduce dropouts and strengthen workforce pipelines
Summary
Ray Jones of South Carolina Student Loan Corporation described the nonprofit’s shift from federal loan servicing to a mix of private loans, grants and employer‑funded pathways, including a $5,000 persistence fund and a BOLD career pipeline to address nursing and teacher shortages.
Ray Jones, vice president of loan programs at South Carolina Student Loan Corporation, told the House Education and Public Works Committee that the Columbia‑based nonprofit has broadened its work to include grants, persistence funding and employer‑partnered programs designed to keep students enrolled and connect graduates to jobs.
Jones described the nonprofit’s history, its current programs and its shift after 2010 away from administering federal student loans. “We preach borrowing responsibly,” Jones told the committee, summarizing the organization’s counseling emphasis while describing private loan products and targeted grant programs intended to reduce stop‑outs and default risk.
The details matter because many student defaults are driven by students who do not complete credentials but still incur debt; Jones told the committee that the organization’s persistence fund and employer partnerships aim to close small gaps — for example, $500 in…
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