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South Carolina Student Loan Corporation Student Loan Revenue Bonds 2014 Series Investor Report Payment Date: June 3, 2019

South Carolina Student Loan Corporation

Student Loan Revenue Bonds, 2014 Series

Investor Report

Payment Date:

6/3/2019

Collection Period:

4/01/2019 - 4/30/2019

Table of Contents

I. II. III. IV. V. VI. VII. VIII. IX.

Principal Parties to the Transaction Explanations, Definitions, Abbreviations Trust Parameters Transactions for the Time Period Cash Payment Detail and Available Funds for the Time Period Distributions Optional Redemption Information 2014 Series Interest Rates for Next Payment Date Items to Note

Page 3 3 4 5 6

7 - 8 9 9 9

I. Principal Parties to the Transaction

Issuer

South Carolina Student Loan Corporation

Servicer

South Carolina Student Loan Corporation Services, administers and makes collections with respect to the Financed Student Loans. The Servicer is compensated monthly for these services. As of 8/19/2016, all loans are subserviced by Nelnet Servicing, LLC.

Trustee, Paying Agent and Registrar

Wells Fargo Bank, N.A. Acts for the benefit of and to protect the interests of the note holders and acts as paying agent for the notes. Also acts on behalf of the note holders and represents their interests in the exercise of their rights under the 1996 General Resolution. The Trustee is compensated annually for these services.

II. Explanations, Definitions, Abbreviations

Pool Balance CPR

For any date, the aggregate Principal Balance of all Financed Student Loans on that date plus accrued interest that is expected to be capitalized as authorized under the Higher Education Act.

Constant Prepayment Rate -- The annualized, compounded SMM (Single Monthly Mortality) rate. In any given month, the SMM measures the percentage of the Initial Pool Balance that was paid back earlier than scheduled.

Ending Balance Factor

For any given day, the number calculated by dividing the unpaid principal balance of the Outstanding 2014 Series Notes (after any payments of principal are made) by the original principal balance of the 2014 Series Notes.

Page 3 of 9

III. Trust Parameters

A. Student Loan Portfolio Characteristics i. Portfolio Principal Balance ii. Accrued Interest to be Capitalized iii. Pool Balance (III.A.i + III.A.ii) iv. Borrower Accrued Interest v. Weighted Average Coupon (WAC) - Gross vi. Weighted Average Coupon (WAC) - Net of Interest Rate Reductions vii. Weighted Average Payments Made* viii. Weighted Average Remaining Months to Maturity** ix. Number of Loans x. Number of Borrowers xi. Average Borrower Indebtedness

B. 2014 Series Debt Characteristics

First Date in Accrual Period Last Date in Accrual Period Days in Accrual Period Payment Date

5/1/2019 6/2/2019

33 6/3/2019

Notes i. 2014 A-1 Bonds ii. 2014 A-2 Bonds iii. 2014 B Bonds

CUSIP 83715RAE2 83715RAF9 83715RAG7

Rate Type 1M LIBOR 1M LIBOR 1M LIBOR

Spread 0.75% 1.00% 1.50%

Index Rate 2.48588% 2.48588% 2.48588%

3/31/2019 $ 470,659,109.04 $

2,282,014.05 472,941,123.09

12,419,259.80 4.96% 4.55% 97.74 161.15 65,615 33,130

14,206.43

Activity

4/30/2019

(8,373,110.77) $ 462,285,998.27

2,274,018.53

464,560,016.80

12,307,902.28

4.95%

4.55%

98.67

160.88

64,315

32,466

14,239.08

Coupon Rate 3.2358800% 3.4858800% 3.9858800%

Maturity 5/1/2030 1/3/2033 8/1/2035

5/1/2019 $ 248,716,570.83 $ 100,500,000.00 $ 73,000,000.00

Interest Due $ 737,748.90 $ 321,136.70 $ 266,721.80

6/3/2019 $ 239,694,168.95 $ 100,500,000.00 $ 73,000,000.00

*Calculation is for loans having entered repayment (in Repayment, Deferment, or Forbearance status).

**As of the date of this data, excludes loans for which the borrower has qualified for an Income-Based Repayment Schedule. For the prior period, these loans total $148,152,382.95 and represent 31.92% of the total loans having entered repayment. For the current period, these loans total $147,595,614.57 and represent 32.25% of the total loans currently having entered repayment.

Page 4 of 9

IV. Transactions for the Time Period

4/01/2019 - 4/30/2019

A. Student Loan Principal Collection Activity

i.

Regular Principal Collections

ii.

Principal Collections from Guaranty Agency

iii.

Principal Repurchases/Reimbursements by Servicer

iv.

Paydown due to Loan Consolidation

v.

Other System Adjustments

vi.

Total Principal Collections

B. Student Loan Non-Cash Principal Activity

i.

Principal Realized Losses - Claim Write-Offs

ii.

Principal Realized Losses - Other

iii.

Other Adjustments (Borrower Incentives)

iv.

Interest Capitalized into Principal During Collection Period

v.

Other Adjustments

vi.

Total Non-Cash Principal Activity

C. Student Loan Principal Additions

i.

Reissues of Financed Student Loans

D. Total Student Loan Principal Activity ( IV.A.vi + IV.B.vi. + IV.C.i )

E. Student Loan Interest Activity

i.

Regular Interest Collections

ii.

Interest Claims Received from Guaranty Agency

iii.

Late Fees & Other

iv.

Interest Repurchases/Reimbursements by Servicer

v.

Interest due to Loan Consolidation

vi.

Other System Adjustments

vii.

Special Allowance Payments

viii.

Interest Subsidy Payments

ix.

Total Interest Collections

F. Student Loan Non-Cash Interest Activity

i.

Interest Losses - Claim Write-offs

ii.

Interest Losses - Other

iii.

Interest Capitalized into Principal During Collection Period

iv.

Other Adjustments

v.

Total Non-Cash Interest Adjustments

G. Total Student Loan Interest Activity ( IV.E.ix + IV.F.v )

H. Interest Expected to be Capitalized

i.

Interest Expected to be Capitalized - Beginning

ii.

Interest Capitalized into Principal During Collection Period ( IV.B.iv )

iii.

Change in Interest Expected to be Capitalized

iv.

Interest Expected to be Capitalized - Ending

Page 5 of 9

$

3,866,289.00

2,923,498.53

-

2,003,551.72

-

$

8,793,339.25

$

58,122.81

(210.42)

-

(478,140.87)

-

$

(420,228.48)

$

-

$

8,373,110.77

$

1,014,709.71

130,643.44

38,035.06

-

100,443.75

-

-

371,625.32

$

1,655,457.28

$

74.45

14,087.83

478,140.87

$

492,303.15

$

2,147,760.43

2,282,014.05

(478,140.87)

470,145.35

$

2,274,018.53

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