2017-02-10T09:49:20-06:00 2016-06-30 570381582 ELLIOTT DAVIS DECOSIMO LLC PLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2015-07-01 570602805 SOUTH CAROLINA STUDENT LOAN CORP SOUT 8037980916 PO BOX 102405 COLUMBIA SC 29224 CHARLIE C SANDERS JR PRESIDENT/CEO 8037980916 2017-02-09 1 DENISE P HILL CPA P00046615 8032560002 2015 2021-01-29 14:40:06Z CHARLIE C SANDERS JR PO BOX 102405 COLUMBIA SC 29224 191697725 0 X WWW.SCSTUDENTLOAN.ORG X 1973 SC THE PURPOSE OF THE CORPORATION IS TO RECEIVE, DISBURSE AND ADMINISTER FUNDS FOR EDUCATIONAL PURPOSES WITHOUT PECUNIARY GAIN OR PROFIT. ADDITIONALLY, THE PURPOSE OF THE CORPORATION IS TO AID IN THE FULFILLMENT OF THE DESIRE AND DIRECTION OF THE PEOPLE OF SOUTH CAROLINA IN MAKING LOANS AVAILABLE TO RESIDENTS TO ENABLE THEM TO ATTEND ELIGIBLE INSTITUTIONS WHICH ARE BEYOND THE PUBLIC SCHOOL LEVEL. THE CORPORATION IS ALSO EMPOWERED TO ACT AS AN AGENT FOR OTHER INSTITUTIONS AND FOUNDATIONS TO RECEIVE, INVEST, HANDLE AND DISBURSE FUNDS, AND TO SERVICE STUDENT LOANS, GUARANTEES OF STUDENT LOANS, INSURANCE OF STUDENT LOANS AND ACQUISITIONS OF CONTINGENT INTEREST IN STUDENT LOANS FOR OTHER PRIVATE, OR GOVERNMENTAL INSTITUTIONS AND FOUNDATIONS. IN GENERAL, THE CORPORATION ENGAGES IN AND CARRIES ON THE FUNCTION OF MAKING, HANDLING, SERVICING, AND DEALING WITH STUDENT LOANS, THE RECEIVING, INVESTING AND DISBURSING OF FUNDS, AND ALL THINGS INCIDENT THERETO, PROVIDED THAT NO ACTIVITY SHALL BE 10 8 141 0 0 0 0 0 95927639 119155382 2705854 1748403 0 0 98633493 120903785 0 0 0 0 10503003 9849976 0 0 0 64985158 66613982 75488161 76463958 23145332 44439827 2769389013 2456563686 2230226712 1873681722 539162301 582881964 X THE PURPOSE OF THE CORPORATION IS TO RECEIVE, DISBURSE AND ADMINISTER FUNDS FOR EDUCATIONAL PURPOSES WITHOUT PECUNIARY GAIN OR PROFIT. ADDITIONALLY, THE PURPOSE OF THE CORPORATION IS TO AID IN THE FULFILLMENT OF THE DESIRE AND DIRECTION OF THE PEOPLE OF SOUTH CAROLINA IN MAKING LOANS AVAILABLE TO RESIDENTS TO ENABLE THEM TO ATTEND ELIGIBLE INSTITUTIONS WHICH ARE BEYOND THE PUBLIC SCHOOL LEVEL. THE CORPORATION IS ALSO EMPOWERED TO ACT AS AN AGENT FOR OTHER INSTITUTIONS AND FOUNDATIONS TO RECEIVE, INVEST, HANDLE AND DISBURSE FUNDS, AND TO SERVICE STUDENT LOANS, GUARANTEES OF STUDENT LOANS, INSURANCE OF STUDENT LOANS AND ACQUISITIONS OF CONTINGENT INTEREST IN STUDENT LOANS FOR OTHER PRIVATE, OR GOVERNMENTAL INSTITUTIONS AND FOUNDATIONS. IN GENERAL, THE CORPORATION ENGAGES IN AND CARRIES ON THE FUNCTION OF MAKING, HANDLING, SERVICING, AND DEALING WITH STUDENT LOANS, THE RECEIVING, INVESTING AND DISBURSING OF FUNDS, AND ALL THINGS INCIDENT THERETO, PROVIDED THAT NO ACTIVITY SHALL BE 0 1 74833611 119155382 PROVIDE STUDENT LOANS TO ELIGIBLE BORROWERS FOR HIGHER EDUCATION AND SERVICE THE LOANS UNTIL PAID BY THE BORROWERS. 74833611 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 118 0 1 141 1 0 0 0 0 0 0 0 0 0 0 X 10 8 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JANE HONEYCUTT 8036125096 8906 TWO NOTCH ROAD COLUMBIA SC 29223 CHARLIE C SANDERS JR PRESIDENT/CEO/BOARD SEC. 32.00 8.00 X X 629660 0 121921 FREDERICK T HIMMELEIN ESQ CHAIRMAN 1.00 1.00 X 20000 0 0 J THORNTON KIRBY ESQ TREASURER 1.00 1.00 X 10000 0 0 WILLIAM M MACKIE JR VICE CHAIRMAN THROUGH 12-4-15 1.00 1.00 X 7000 0 0 BARBARA F WESTON DIRECTOR 1.00 1.00 X 10000 0 0 HARRY R BROWN DIRECTOR 1.00 1.00 X 17000 0 0 RENEE R BROOKS DIRECTOR 1.00 1.00 X 14000 0 0 D GRANT CARWILE ESQ DIRECTOR THROUGH 12-31-15 1.00 1.00 X 10000 0 0 NEIL E GRAYSON ESQ DIRECTOR 1.00 1.00 X 14000 0 0 FRED L GREEN III DIRECTOR 1.00 1.00 X 10000 0 0 JEFFREY R SCOTT DIRECTOR 1.00 1.00 X 10000 0 0 D GRANT CARWILE ESQ EXECUTIVE VP 1-1-16 40.00 0.00 X 0 0 0 JANE HONEYCUTT CFO 32.00 8.00 X 193253 0 58576 DONNA DEWISPELAERE PRESIDENT/CEO/CAMPUS PARTN 1.00 40.00 X 0 149242 8528 DAVID SIMON CIO 32.00 8.00 X 190640 0 56773 ANNE HARVIN GAVIN SVP 32.00 8.00 X 136235 0 40048 CINDI CALLAHAM RISK MANAGEMENT DIRECTOR 32.00 8.00 X 140347 0 37774 DENISE EASTERLING VP, SC3 32.00 8.00 X 127423 0 37156 DONNA WEATHERSBEE HR DIRECTOR 32.00 8.00 X 120440 0 28157 DEBRA MILLER CONTROLLER 32.00 8.00 X 115387 0 42595 1775385 149242 431528 8 0 1 0 ELLIOTT DAVIS DECOSIMO 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 EXTERNAL AUDITOR 203095 NELSON MULLINS RILEY & SCARBOROUGH LLP 1320 MAIN STREET COLUMBIA SC 29201 LEGAL SERVICES 200135 MCNAIR LAW FIRM PA 100 CALHOUN STREET SUITE 400 CHARLESTON SC 29401 LEGAL SERVICES 173552 3 X STUDENT LOAN INTEREST 900099 107638808 107638808 BONDS PAYABLE TENDER OFFER DISCOU 900099 32419500 32419500 US DOE SUBSIDIZED INTEREST 900099 14444271 14444271 MISCELLANEOUS INCOME 900099 4286140 4286140 LATE CHARGES 900099 2093380 2093380 -41726717 -41726717 119155382 1804343 1804343 70738000 70793940 -55940 -55940 -55940 120903785 119155382 0 1748403 X 1228097 1105287 122810 4043629 3639267 404362 3628880 3265991 362889 595415 535874 59541 353955 318559 35396 357440 321696 35744 174530 157077 17453 1087198 1087198 1570715 1413643 157072 225910 203319 22591 396985 317588 79397 44880 40392 4488 102257 92031 10226 27025610 27025610 311230 280107 31123 80750 72675 8075 ORIGINATION FEES 9444194 9444194 TLP CANCELLATIONS 5766785 5766785 BORROWER INCENTIVES 5559353 5559353 LOAN LOSS EXPENSE 3779330 3779330 10686815 10407635 279180 76463958 74833611 1630347 0 286470121 201995575 45300724 41869961 2262887168 2025807107 255000 332703 7435936 2581250 4975634 4854686 169048474 181703654 451892 0 2769389013 2456563686 47303903 47281255 2687161 1212643 2169990501 1814476406 10245147 10711418 2230226712 1873681722 X 353278600 325912119 185883701 256969845 539162301 582881964 2769389013 2456563686 X 44439827 38859 -759023 X X 0 1 X 1 0 X 27113745 21193491 48307236 75036369 72166115 100719275 95927639 119155382 463004780 102150114 93359606 100719275 95927639 119155382 511312016 0 0 0 511312016 745261 3445952 699628 1406065 1804343 8101249 745261 3445952 699628 1406065 1804343 8101249 2906809 19669212 22576021 105802184 116474770 101418903 97333704 120959725 541989286 0.94340 0.93500 0.01490 0.01350 X 364900 364900 4358670 508474 3850196 2599320 2009734 589586 113046 63042 50004 4854686 SCOTT & STRINGFELLOW 95827915 F GREENWOOD CAPITAL 10006635 F BB&T CAPITAL MARKETS 67400008 F OTHER INVESTMENTS 8469096 F 181703654 DUE TO US DEPARTMENT OF EDUCATION 8182479 DEFINED BENEFIT PLAN OBLIGATION 2528939 10711418 X 121793840 38859 851196 890055 120903785 0 120903785 78074177 1610219 1610219 76463958 0 76463958 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED THE CORPORATION'S TAX POSITIONS AND CONCLUDED THAT THE CORPORATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCOME FROM EDVANTAGE (FILES SEPARATE FORM 990) 641,196. INCOME FROM SC3, LLC (FILES SEPARATE FORM 1120 WITH PIHI) 210,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM EDVANTAGE (FILES SEPARATE FORM 990) 640,794. EXPENSES FROM PALMETTO INVESTMENT HOLDINGS, INC (FILES SEPARATE FORM 1120) 500,000. EXPENSES FROM SC3, LLC (FILES SEPARATE 1120 WITH PIHI) 469,425. X 0 0 X X 0 0 0 0 0 0 0 1 0 CHARLIE C SANDERS JR PRESIDENT/CEO/BOARD SEC. 429660 0 200000 0 0 0 74172 0 47749 0 751581 0 0 0 JANE HONEYCUTT CFO 155753 0 37500 0 0 0 37265 0 21311 0 251829 0 0 0 DONNA DEWISPELAERE PRESIDENT/CEO/CAMPUS PARTN 0 131832 0 17410 0 0 0 0 0 8528 0 157770 0 0 DAVID SIMON CIO 153140 0 37500 0 0 0 35182 0 21591 0 247413 0 0 0 ANNE HARVIN GAVIN SVP 117235 0 19000 0 0 0 15080 0 24968 0 176283 0 0 0 CINDI CALLAHAM RISK MANAGEMENT DIRECTOR 126847 0 13500 0 0 0 18884 0 18890 0 178121 0 0 0 DENISE EASTERLING VP, SC3 106423 0 21000 0 0 0 16653 0 20503 0 164579 0 0 0 DEBRA MILLER CONTROLLER 100387 0 15000 0 0 0 36241 0 6354 0 157982 0 0 0 PART I, LINE 1A NON-BUSINESS HOUSING WAS PROVIDED TO DONNA DEWISPELAERE, PRESIDENT AND CEO OF CAMPUS PARTNERS (SINGLE MEMBER LLC). THIS COMPENSATION WAS INCLUDED IN HER TAXABLE WAGES. PART I, LINE 7 THE BOARD PROVIDES DISCRETIONARY BONUSES FOR CERTAIN EXECUTIVES. D GRANT CARWILE DIRECTOR OF SL CAPITAL STRATEGIES 104011 ADVISOR FOR AMBAC/2004 TRUST RESTRUCTURING AND 2015 SERIES BOND ISSUE 0 FORM 990, PAGE 1, PART I, LINE 1: CARRIED ON WHICH IS NOT PERMITTED BY A CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FORM 990, PAGE 2, PART III, LINE 1: CARRIED ON WHICH IS NOT PERMITTED BY A CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FORM 990, PART III, LINE 3 CAMPUS PARTNERS (SINGLE MEMBER LLC) ENDED ITS CORE BUSINESS THROUGH ASSIGNMENT OF SCHOOL CONTRACTS TO A 3RD PARTY IN THE PRIOR YEAR. THE MAJORITY OF THE REMAINING ASSETS OF CAMPUS PARTNERS WERE SOLD TO A THIRD PARTY DURING THIS TAX YEAR WHO ALSO ASSUMED RESPONSIBLITY FOR REMAINING VENDOR CONTRACTS. FUTURE PLANS FOR THIS ENTITY ARE BEING EVALUATED. EDVANTAGE IS NOT ACTIVELY SERVING AS A DEBT COLLECTOR AT THIS TIME. FORM 990, PART VI, SECTION B, LINE 11 THE COMPLETED FORM 990 WAS SENT TO THE CORPORATION FOR REVIEW AND FINAL SIGNATURE BEFORE SUBMISSION TO THE IRS. THE PROCESS ENTAILED A REVIEW BY THE CHIEF FINANCIAL OFFICER, THE CHIEF EXECUTIVE OFFICER AND ALL MEMBERS OF THE AUDIT COMMITTEE OF THE CORPORATION. ANY QUESTIONS/ISSUES WERE CLARIFIED AND ADDRESSED AS NECESSARY BEFORE THE FINAL SIGNATURE AND SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C A WRITTEN CONFLICT OF INTEREST POLICY IS DISTRIBUTED WITH THE MEETING MATERIALS FOR THE AUGUST MEETING OF THE BOARD OF DIRECTORS FOR COMPLETION BY EACH DIRECTOR. ALL FORMS ARE COLLECTED AND REVIEWED BY STAFF FOR ANY APPARENT CONFLICT. ALL EMPLOYEES COMPLETE DOCUMENTATION ANNUALLY TO DISCLOSE ANY CONFLICTS OF INTEREST. NEW HIRES COMPLETE THIS FORM AT THE TIME OF HIRING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF THE CORPORATION DETERMINES THE COMPENSATION OF THE PRESIDENT/CEO. MEMBERS OF THE COMPENSATION COMMITTEE ARE VERY KNOWLEDGEABLE ABOUT EXECUTIVE COMPENSATION IN GENERAL. ONE MEMBER IS A FORMER PRESIDENT OF A STUDENT LOAN PROVIDER AND THE CHAIRMAN OF THE COMPENSATION COMMITTEE IS A FORMER SENIOR VICE PRESIDENT AND HUMAN RESOURCES DIRECTOR OF A NATIONAL AND A COMMUNITY BANK. NEITHER THE PRESIDENT NOR OTHER MEMBERS OF THE CORPORATION STAFF ARE INVOLVED IN THESE PRESIDENT/CEO COMPENSATION DISCUSSIONS. TOP MANAGEMENT COMPENSATION IS DETERMINED BY THE PRESIDENT/CEO, WHO IS FAMILIAR WITH COMPENSATION STRUCTURES IN THE REGIONAL MARKETPLACE FOR SIMILAR TYPES OF ORGANIZATIONS. BOTH THE COMPENSATION COMMITTEE AND THE CEO USE INDUSTRY COMPENSATION SURVEYS TO ASSIST IN THEIR COMPENSATION DECISIONS. FORM 990, PART VI, SECTION C, LINE 19 THE CORPORATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST TO THE PUBLIC. THE CORPORATION'S YEARLY AUDITED FINANCIAL STATEMENTS ARE POSTED TO ITS WEBSITE. FORM 990, PAGE 9, PART VIII, LINE 2F ALL OTHER PROGRAM SERVICE REVENUE IS COMPRISED OF (42,240,786) SPECIAL ALLOWANCE, SCSEAA REMITANCES 526,162 AND (12,093) MISCELLANEOUS PAYMENTS OF STUDENT LOANS. FORM 990, PART IX, LINE 24E AMORTIZATION OF DEFERRED COST OF BOND: PROGRAM SERVICE EXPENSES 3,584,251. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,584,251. PAYMENTS TO SC SEAA FOR STUDENT LOAN INC: PROGRAM SERVICE EXPENSES 2,911,633. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,911,633. OTHER OPERATING EXPENSES: PROGRAM SERVICE EXPENSES 2,385,566. MANAGEMENT AND GENERAL EXPENSES 265,063. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,650,629. RECALL OF FUNDS: PROGRAM SERVICE EXPENSES 1,339,512. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,339,512. OTHER: PROGRAM SERVICE EXPENSES 127,053. MANAGEMENT AND GENERAL EXPENSES 14,117. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 141,170. SUBSCRIPTIONS AND FEES: PROGRAM SERVICE EXPENSES 59,620. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 59,620. FORM 990, PART XI, LINE 9: EDVANTAGE FYE 6-30-16 CHANGE IN NET ASSETS 402. PALMETTO INVESTMENT HOLDINGS, INC.FYE 6-30-16 CHANGE IN NET ASSETS -500,000. SC3,LLC FYE 6-30-16 CHANGE IN NET ASSETS -259,425. FORM 990, PAGE 12, PART XII, LINE 2C THE AUDIT COMMITTEE OF SCSLC ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS CONSOLIDATED FINANCIAL STATEMENTS, INCLUDING EDVANTAGE, AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FORM 990, PAGE 5, PART V, LINE 2A IN ADDITION TO THE EMPLOYEES REPORTED ON PAGE 5, PART V, LINE 2A, THE ORGANIZATION OWNS 100% OF A DISREGARDED ENTITY, EDUCATIONAL LOAN SERVICING, LLC D/B/A CAMPUS PARTNERS, WHICH REPORTED 50 EMPLOYEES ON THEIR SEPARATE 2015 FORM W-3. FORM 990, PAGE 5, PART V, LINE 1A IN ADDITION TO THE NUMBER OF 1099'S REPORTED ON PAGE 5, PART V, LINE 1A, THE ORGANIZATION OWNS 100% OF A DISREGARDED ENTITY, EDUCATIONAL LOAN SERVICING, LLC D/B/A CAMPUS PARTNERS, WHICH REPORTED 4 FORM 1099'S ON THEIR SEPARATE 2015 FORM 1096. EDUCATIONAL LOAN SERVICING LLC (DBA CAMPUS PARTNERS) 8906 TWO NOTCH ROAD COLUMBIA SC 29223 LOAN SERVICING SC 2965469 396085 SC STUDENT LOAN CORPORATION SC3 SOLUTIONS LLC 8906 TWO NOTCH ROAD COLUMBIA SC 29223 300883821 CALL AND CUSTOMER CONTACT CENTER SC 210000 -203095 PALMETTO INVESTMENT HOLDINGS INC EDVANTAGE CORPORATION 8906 TWO NOTCH RD COLUMBIA SC 29223 451482379 LOAN COLLECTIONS THROUGH 2-16-16 SC 501(C)(3) LINE 11A, I SC STUDENT LOAN CORPORATION 1 PALMETTO INVESTMENT HOLDINGS INC 8906 TWO NOTCH ROAD COLUMBIA SC 29223 475117347 HOLDING COMPANY FOR FOR-PROFIT VENTURES SC SC STUDENT LOAN CORPORATION C -556329 1 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 EDVANTAGE CORP - LEASED ASSETS J 14496 RENT BASED ON SQ.FT.UTILIZED EDVANTAGE CORP - SHARED ASSETS N NO AMOUNT CHARGED EDVANTAGE CORP - SHARED EMPLOYEES O NO AMOUNT CHARGED EDVANTAGE CORP - SERVICES PERFORMED THROUGH 2-16-16 M 641196 COLLECTION FEES PER CONTRACT SC3LLC - SHARED SERVICES Q 469424 FAIR MARKET VALUE PALMETTO INVESTMENT HOLDINGS INC B 2300000 CONTRIBUTED CAPITAL SCHEDULE R, PART V, 1I: EDVANTAGE CORPORATION RECEIVED APPROVAL OF ITS TAX-EXEMPT STATUS EFFECTIVE APRIL 1, 2011. SCHEDULE R DISCLOSURE IS AS FOLLOWS: EDVANTAGE CORPORATION WAS FORMED APRIL 1, 2011 AS A SOUTH CAROLINA NON-PROFIT PUBLIC BENEFIT CORPORATION WITH THE PRIMARY PURPOSE OF BECOMING A CONTRACTOR FOR DIRECT LOAN COLLECTIONS FOR THE UNITED STATES DEPARTMENT OF EDUCATION (THE "DOE") UNDER GUIDELINES OF THE SMALL BUSINESS ADMINISTRATION (THE "SBA"). THE CORPORATION MADE A CONTRIBUTION OF CAPITAL TO EDVANTAGE AT THE INCEPTION OF EDVANTAGE IN EXCHANGE FOR ALL OF THE OWNERSHIP RIGHTS IN EDVANTAGE. THE SECOND CONTRIBUTION WAS FOR OPERATING CAPITAL. EDVANTAGE ENTERED INTO A CONTRACT WITH PERFORMANT/DCS ("EDVANTAGE CONTRACT") AS A SUBCONTRACTOR TO PROVIDE COLLECTION SERVICES. PERFORMANT/DCS IS A LARGE CONTRACTOR FOR DOE. EDVANTAGE BEGAN PERFORMING THE SUBCONTRACT UNDER THE SMALL BUSINESS SET ASIDE, AS DEFINED BY REGULATIONS OF THE SBA. WHEN EDVANTAGE APPLIED FOR SMALL BUSINESS CERTIFICATION, IT LEARNED THAT IT WOULD NOT OUALIFY DUE TO SBA REQUIREMENTS RELATED TO REVENUE OF ITS PARENT AND ITS NON-PROFIT STATUS. AS A RESULT, EDVANTAGE CEASED PROVIDING SUBCONTRACTOR SERVICES FOR PFC AS OF APRIL 1, 2014; HOWEVER,EDVANTAGE HAS MAINTAINED REQUIRED LICENSING. ON APRIL 1, 2014, EDVANTAGE BEGAN PROVIDING 3RD PARTY COLLECTION SERVICES FOR THE SOUTH CAROLINA STUDENT LOAN CORPORATION, PURSUANT TO THEIR CONTRACTUAL RELATIONSHIP WITH THE SOUTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY. THESE SERVICES CONTINUED THROUGH FEBRUARY 16, 2016. AT THAT TIME THE COLLECTION SERVICES ON THESE ACCOUNTS REVERTED TO THE AUTHORITY. EDVANTAGE IS NOT ACTIVELY SERVING AS A DEBT COLLECTOR AT THIS TIME.