What Is It Called?
The Palmetto LIFE Scholarship. LIFE stands
for Landmark Incentive For Education.
Requirements:
High School Seniors Entering Four-Year College:
"B" Average, 1000 SAT.
High School Seniors Entering Two-Year and
Technical Colleges: "B" Average.
1998 College Sophomores: "B" Average in college
1999 College Students: Cumulative "B" Average
in college.
Award Amounts:
$2,000 for tuition, books and other school
expenses at four-year schools.
$1,000 for tuition, books and other school
expenses at two-year and technical colleges.
Eligibility:
Fall of 1998: Freshman and Sophomore classes
who meet academic requirements.
Fall of 1999: All college students who meet
academic requirements.
Students must be taking requisite number of
courses to get them degree in four years or two years, depending on institution.
Cost:
1998-99 Fiscal Year: $18 million, approximately.
1999-00 Fiscal Year: $36 million, approximately.
What It Will Do:
Coupled with the federal scholarship program,
will pay at least the tuition costs for virtually all South Carolina's
public colleges. The federal program is a $1,500 tax credit. Governor Beasley's
plan can be used to pay tuition, books, fees or other college-related costs.
Who's Likely To Get It?
Approximately one-third of students who go
on to college.
About 45 percent of those in four-year public
institutions are expected to earn the award.
How Many Students Are Expected To Earn The Award?
In the plan's first year, 10,600. Of that,
about half are current high school seniors.
Eventually, about 20,000 students are expected
to be eligible.
Will Private School Students Be Eligible?
Yes. Those students can get the $2,000, which
can go toward tuition, fees and other expenses.
Why an SAT requirement?
To offer an incentive that may help raise
South Carolina's SAT scores, and limit the potential for grade inflation.
Why Phase The Program In?
Any major initiative will take time to get
all the necessary paperwork and procedures done. A phase-in is very common
for a major new initiative such as this.
How The Governor's Plan It Will Work:
Students would receive their credits through
the colleges. Checks would not be issued.
BEASLEY RECORD ON SCHOLARSHIPS:
Began South Carolina's first prepaid tuition
assistance program, which will open up next year.
Began South Carolina's first need-based college
scholarship program.
Nearly 14,000 students are receiving need-based
scholarships totaling more than $20 million dollars.
By the end of the current academic year, South
Carolina will have granted more than $100 million in college scholarships
since Governor Beasley took office. About $55 million of that is
Tuition Grants Commission awards, and about $45 million came from programs
that virtually did not exist before January 1995, when the Governor was
inaugurated.
Other Facts:
Current South Carolina SAT Average: 953
Current National SAT Average: 1016