Scholarship Refund

Scholarship Refund Instructions

SCTPP contract benefits can only be applied toward the cost of tuition and mandatory fees. Scholarship funding is generally more flexible and may be used to cover “cost of attendance” such as dormitory expenses, meals, laboratory fees, books, etc.   Due to the rise in tuition and other fees, in most cases, it takes the SCTPP funding and scholarship funding to pay for the cost of attendance.  Your SCTPP benefits can be held for future use or may be refunded to the contributor (owner) of the account on a semester-by-semester basis.

SCTPP will issue scholarship reimbursement if the scholarship is for the full amount of the tuition and mandatory fee charges for a semester.  The amount of the scholarship refund will include either the original purchase price plus the compounded Rate of Return earned by the Fund OR the current weighted average payout rate at colleges and universities in South Carolina, whichever is less.   Benefits will be deducted based on the actual credit hours billed/paid and capped at 16 credit hours.  

SCTPP does not issue partial refunds. 

You should coordinate billing and payment of SCTPP benefits with the university’s billing office when applied in conjunction with a scholarship.  The school's billing office will be able to tell you how they apply all forms of payments, whether it be scholarships or funds from your SCTPP account.  Payment from SCTPP can reduce the amount of the scholarship award (including the LIFE Scholarship) in some instances.  In the event that you do not properly coordinate your benefits and SCTPP pays the school for tuition expenses also covered by your scholarship award, the paid benefits will be deducted from your SCTPP contract. The payments made to a school by SCTPP on your behalf cannot be reversed; therefore, it is important that you pay close attention to the invoices you receive from your school.  

In order to process a scholarship refund, you must print the Scholarship Refund Request Form(pdf), attach appropriate documentation and mail it to us or fax it to 800-519-4652.