Educational Facilities for Private Nonprofit Institutions of Higher Learning
About the Program
The Educational Facilities Authority Act for Private Nonprofit Institutions of Higher Learning was authorized through section 59-109-20, SC Code of Laws, to provide an alternative funding vehicle for the state’s private colleges and universities.
On behalf of the Educational Facilities Authority (EFA), the State Treasurer’s Office works with private colleges and universities to borrow funds as efficiently and effectively as possible by securing the lowest rates and fees while ensuring that the investment of the lenders, investors and bondholders is protected and secured.
By borrowing through the EFA, private colleges and universities have access to many of the same financing benefits and services as their public counterparts, providing them with the ability to use the state’s tax-exempt status to issue revenue debt for their facility needs.
The bond proceeds can be used to facilitate the purchase, construction, renovation and upfit of buildings needed to serve the purpose of the college or university for educating students.
Request More Information
For inquiries related to the EFA, please contact:
Assistant Debt Director