Invest in Their Future
One Day They Will Thank You

It's Never Too Early To Start Saving

College may seem like a distant dream at this point in your child’s life, but it’s never too early to start preparing for this important goal. For a child born today to attend a public university in 18 years, it can cost as much as $215,064, and almost twice that amount for a private school. 1

Your child will thank you when they don’t have expensive tuition bills or large loan balances to worry about. Plus, the money you save through Future Scholar can be used to pay qualified education costs at any eligible educational institution in the United States, as well as some international schools. This includes two- and four-year public and private colleges, graduate and professional programs and certain vocational-technical schools.

1 Source: College Savings Projector calculator on futurescholar.com, as of August 2016. Based on the cost for a public, in-state four year college and assumes a 5% rate of inflation.

The Tax Free Way to Save for College

South Carolina’s 529 savings plan offers parents the following advantages:

  • Similar to a 401(k), earnings on the plan are tax-free on both federal and South Carolina income taxes as long as the money is used for education.
  • Contributions are also tax deductible for those who file a South Carolina tax return.
  • Funds can be withdrawn tax-free for qualified education expenses.
  • The money saved can be used at most U.S. and many international universities and educational institutions.
  • Unlike other college and gift funds, parents or other plan holders maintain control over their investment.
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Once you’ve enrolled in Future Scholar, it’s easy to make a contributions. Anyone, including parents, grandparents, or other family and friends, can contribute until the balance reaches $426,000.

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