Student Loans in South Carolina

Average debt, state-specific forgiveness programs, and repayment strategies for South Carolina borrowers in 2026.

Average Debt

$34,000

Monthly Payment (Std)

$387

State Tax Deduction

Yes

vs. National Avg

+$2,000

Student Loan Overview for South Carolina

South Carolina borrowers carry an average student loan debt of $34,000, which is above the national average of approximately $32,000. Under the Standard 10-year repayment plan at the current federal interest rate of 6.53%, South Carolina graduates would pay $387 per month and a total of $12,440 in interest over the life of the loan.

For borrowers seeking lower monthly payments, income-driven repayment plans like SAVE (formerly REPAYE) cap payments at 5-10% of discretionary income. South Carolina residents working in public service should explore PSLF for potential forgiveness after 10 years of qualifying payments.

South Carolina Student Loan Forgiveness Programs

South Carolina offers the Teacher Loan Program and the Rural Physician Loan Repayment Program.

In addition to state programs, South Carolina borrowers have access to all federal forgiveness programs including PSLF, Teacher Loan Forgiveness ($17,500 for STEM and special education teachers), and income-driven repayment forgiveness after 20-25 years.

State Tax Deduction for Student Loan Interest

South Carolina conforms to the federal student loan interest deduction. Borrowers can deduct up to $2,500 in student loan interest paid during the tax year on both their federal and South Carolina state income tax returns. This deduction phases out for single filers earning $75,000-$90,000.

Top South Carolina Colleges & Average Debt

Institution	Avg. Graduate Debt
Clemson University	$30,000
University of South Carolina	$28,000

* Debt figures are approximate averages for graduating students who borrowed.

Frequently Asked Questions

What is the average student loan debt in South Carolina?

The average student loan borrower in South Carolina graduates with approximately $34,000 in student loan debt. This is above the national average of $32,000.

Does South Carolina offer student loan forgiveness?

South Carolina offers the Teacher Loan Program and the Rural Physician Loan Repayment Program.

Can I deduct student loan interest on South Carolina state taxes?

Yes, South Carolina conforms to the federal student loan interest deduction. You can deduct up to $2,500 in student loan interest paid on your South Carolina state income tax return, subject to income limits.

What are the best colleges in South Carolina for low student debt?

Among South Carolina institutions, Clemson University has an average graduate debt of $30,000. In-state tuition at public universities is significantly lower than out-of-state rates.

What repayment plan should I use for student loans in South Carolina?

Your best plan depends on your income and career. South Carolina residents earning under $50,000 should consider the SAVE plan for the lowest payments. Those in public service should pursue PSLF. Higher earners may benefit from the Standard plan or refinancing.

Explore More Student Loan Tools

${floatingBanner()} ${mobileBottomNav()}