State Treasurer Curtis Loftis Presents Lexington Family with $529 PalmettoBaby Grant
Sara and Jonathan McFall of Lexington welcomed their second child, Callum, early Tuesday morning at Lexington Medical Center’s new patient care tower. Then a few hours later, State Treasurer Curtis Loftis stopped by to congratulate the family and present a wonderful baby gift for their new son – a privately-funded $529 Future Scholar PalmettoBaby grant.
This marks the seventh year the state has offered the PalmettoBaby Grant Program as part of its annual celebration of National 529 Day. Through the program, all babies born in South Carolina on May 29, 2019, are designated as PalmettoBabies and are eligible to apply for a $529 grant when their families enroll in a Future Scholar college savings plan by Aug. 30, 2019.
“I was pleased to learn the McFall family already knew the value of a Future Scholar 529 college savings plan as their older son has an account,” Treasurer Loftis said. “Now baby Callum will have the same opportunity to enjoy savings from his PalmettoBaby grant, along with his family and friends’ contributions, to help him prepare for his future education.”
“529 Day is great reminder that saving early for a child’s education is one of the most meaningful gifts parents and families can make,” Treasurer Loftis added.
The PalmettoBaby Grant Program is held on May 29 (5/29) in recognition of National 529 College Savings Day. National 529 Day is named for the section in the Internal Revenue code that created 529 plans, which include tax-advantaged savings accounts such as South Carolina’s Future Scholar 529 College Savings Plan.
About Future Scholar
Future Scholar is South Carolina’s 529 College Savings Plan. It is administered through the State Treasurer’s Office. For more information, visit FutureScholar.com or follow @SCStateTreasurer on Facebook. No state funds are used to market Future Scholar or fund the PalmettoBaby Grant Program.