South Carolina 529 College Savings Plan – Future Scholar 529

South Carolina 529 College Savings Plan

How to Save on College Student ExpensesAbout: South Carolina’s Future Scholar 529 College Savings Plan (Direct-sold), available on a direct basis only to those who meet certain South Carolina residency requirements, features a menu of age-based and static portfolio options utilizing Columbia and Vanguard funds.

Website: https://www.futurescholar.com/

Phone #: 1-888-244-5674

Investment Options: The Age-Based Portfolios option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 6 portfolios of underlying mutual funds. Contributors can also select among 7 Target Allocation portfolios (Aggressive Growth, Growth, Moderate Growth, Moderate, Moderately Conservative, Conservative and College),7 individual-fund index portfolios, a short-term bond fund, a money market fund, and a bank deposit account. Investments re managed by Columbia mutual funds, Vanguard funds, iShares Barclays TIPS Bond Fund, and a BB&T bank deposit account.

Tax Benefits: Contributions, including rollover contributions, to a South Carolina 529 plan are fully deductible in computing South Carolina taxable income.

State Residency Requirements:  The account owner or beneficiary must be a resident of South Carolina, or an employee of the State of South Carolina, at the time of program enrollment.

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