South Carolina 529 College Savings Plan – Future Scholar 529
South Carolina 529 College Savings Plan
About: 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.
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.
Saving for College with Upromise
Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.
Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.
Once you join Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ to 25% back that is credited to your account. There are more than 600 online retailers, including Target and more, which will give you rewards that can be used for college and tuition expenses.
The beauty of the Upromise program is that you save money for college by simply shopping at the normal stores you visit every day. Upromise was created in partnership with Sallie Mae and is designed to help save for education costs.