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H. 4586
STATUS INFORMATION
General Bill
Sponsors: Reps. G.M. Smith, Stavrinakis and Cotty
Document Path: l:\council\bills\dt\27015bb08.doc
Introduced in the House on January 29, 2008
Currently residing in the House Committee on Ways and Means
Summary: Student loans
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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1/29/2008 House Introduced and read first time HJ-34
1/29/2008 House Referred to Committee on Ways and Means HJ-34
2/5/2008 House Member(s) request name added as sponsor: Stavrinakis
4/2/2008 House Member(s) request name added as sponsor: Cotty
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 59-101-210 SO AS TO PROVIDE THAT BOTH STATE-SUPPORTED AND PRIVATE ENTITIES THAT PROVIDE STUDENT LOANS TO BORROWERS ENROLLED IN HIGHER EDUCATION INSTITUTIONS IN THIS STATE SHALL ALLOW BORROWERS TO PREPAY THEIR LOANS WITHOUT PENALTY AND WITHOUT HAVING TO PAY UNACCRUED INTEREST.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 2, Chapter 101, Title 59 of the 1976 Code is amended by adding:
"Section 59-101-210. An entity, whether state-supported or private, that provides student loans to borrowers enrolled in higher education institutions in this State, shall allow borrowers to prepay their loans without penalty and without having to pay unaccrued interest."
SECTION 2. This act takes effect upon approval by the Governor.
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