Due to necessary and extensive upgrades of the computer system infrastructure, we have scheduled downtime for this weekend.
We expect to have major outages beginning Friday, November 21, 2014, from 6:00 PM until Sunday, November 23rd at 6:00 PM.
During these outages, this website will be unavailable.

South Carolina Code of Regulations
Unannotated
Current through State Register Volume 37, Issue 9, effective September 27, 2013

DISCLAIMER

The South Carolina Legislative Council is offering access to the unannotated South Carolina Code of Regulations on the Internet as a service to the public. The unannotated South Carolina Code of Regulations on the General Assembly's website is now current through State Register Volume 37, Issue 9, effective September 27, 2013. The unannotated South Carolina Code of Regulations, consisting only of Regulation text, numbering, and history, may be copied from this website at the reader's expense and effort without need for permission.

The Legislative Council is unable to assist users of this service with legal questions. Also, legislative staff cannot respond to requests for legal advice or the application of the law to specific facts. Therefore, to understand and protect your legal rights, you should consult your own private lawyer regarding all legal questions.

While every effort was made to ensure the accuracy and completeness of the unannotated South Carolina Code of Regulations available on the South Carolina General Assembly's website, the unannotated South Carolina Code of Regulations is not official, and the state agencies preparing this website and the General Assembly are not responsible for any errors or omissions which may occur in these files. Only the current published volumes of the South Carolina Code of Regulations Annotated and any pertinent acts and joint resolutions contain the official version.

Please note that the Legislative Council is not able to respond to individual inquiries regarding research or the features, format, or use of this website. However, you may notify the Legislative Services Agency at LSA@scstatehouse.gov regarding any apparent errors or omissions in content of Regulation sections on this website, in which case LSA will relay the information to appropriate staff members of the South Carolina Legislative Council for investigation.




CHAPTER 42.

STATE EDUCATION ASSISTANCE AUTHORITY

(Statutory Authority: 1976 Code Section 59-115-50)

ARTICLE I.

GENERAL DEFINITIONS

42-10. Compliance with Federal Requirements.

The South Carolina State Education Assistance Authority will administer the Federal Family Educational Loan Program in compliance with the federal laws and regulations pertaining to this program including but not limited to:

(1) The Higher Education Act of 1965 as amended; and

(2) 34 Code of Federal Regulations, Part 682 as amended; and

(3) 34 Code of Federal Regulations, Part 668 as amended.

HISTORY: Amended by State Register Volume 20, Issue No. 9, eff September 27, 1996.

ARTICLE II.

GENERAL REGULATIONS RELATING TO STUDENTS

42-20. Additional Requirements.

In addition to, and as allowed by the federal laws and regulations governing the Federal Family Educational Loan Program, the South Carolina State Education Assistance Authority retains the authority to regulate aspects of the program to protect and enhance the Federal Family Educational Loan Program. These additional requirements include but are not limited to the following:

(1) The term "guaranty agency" as used in the federal regulations and laws cited above is defined as the State Budget and Control Board of South Carolina acting as the South Carolina State Education Assistance Authority.

(2) In order for an eligible lender to participate in the South Carolina State Education Assistance Authority's Federal Family Educational Loan Program, the lender must be approved by the South Carolina State Education Assistance Authority, or an authorized officer of the Authority.

(3) A lender, or subsequent holder, may not sell or transfer loans guaranteed by the South Carolina State Education Assistance Authority or transfer its loan making or servicing functions to a servicing agent or other party without prior approval of the South Carolina State Education Assistance Authority.

(4) The South Carolina Student Loan Corporation is an eligible lender and is the single, private, non-profit agency designated by the State to administer the Federal Family Education Loan Program.

HISTORY: Amended by State Register Volume 20, Issue No. 9, eff September 27, 1996.




Legislative Services Agency
h t t p : / / w w w . s c s t a t e h o u s e . g o v