State Treasurer Curtis Loftis Announces National 529 Day Celebration With $529 College Savings Grants
Babies born on May 29 are eligible to receive PalmettoBaby grant for future education
State Treasurer Curtis Loftis today announced the return of the annual PalmettoBaby Grant Program in celebration of National 529 Day.
“South Carolina’s Future Scholar 529 College Savings Plan is proud to offer once again privately funded $529 grants to the parents of every South Carolina baby born on May 29,” said Treasurer Loftis. “We look forward to celebrating National 529 Day by helping set these new babies on a lifelong path of saving.”
For 11 years, Treasurer Loftis has partnered with hospitals across the Palmetto State to promote the importance of saving for college through the PalmettoBaby Grant Program. In addition to the opportunity to secure a $529 college savings grant, South Carolina parents who give birth on Monday, May 29, receive a Future Scholar goody bag, which includes information about the state’s award-winning 529 college savings plan.
“My primary duty as administrator of Future Scholar is to help South Carolina families save for their loved ones’ future education,” said Treasurer Loftis. “Amid the excitement of new babies, our 529 Day celebration is an opportunity to remind all South Carolina families of the importance of saving for college.”
To receive the PalmettoBaby grant, parents of babies born on May 29 must complete the grant application and open a Future Scholar account by August 31, 2023.
The Future Scholar 529 College Savings Plan offers families a smart and easy way to save for their children’s college education expenses with opportunities for tax-deductible contributions from state income taxes, tax-free growth and tax-free distributions for qualified education expenses.
Visit FutureScholar.com/PalmettoBaby to learn more about the PalmettoBaby Grant Program and its eligibility guidelines.
About Future Scholar
Future Scholar is South Carolina’s 529 College Savings Plan, administered by the State Treasurer’s Office. The plan has more than $5.2 billion in assets under management and is credited with helping more than 214,000 South Carolinians save for their loved ones’ future education. For more information, visit FutureScholar.com or follow @SCStateTreasurer on Facebook. Future Scholar is self-supported and does not receive taxpayer funding.