Treasurer Curtis Loftis Celebrates National 529 Day with $529 Grants for Newborns

South Carolina’s tiniest residents could score a big head start on their future thanks to the return of the PalmettoBaby Grant Program. State Treasurer Curtis Loftis announced today that every South Carolina baby born on May 29 will be eligible to receive a privately funded $529 PalmettoBaby grant in celebration of National 529 Day.

The PalmettoBaby Grant has become a statewide tradition that turns birthdays into beginnings, helping families start saving for education from the very first day of a child’s life through South Carolina’s Future Scholar 529 College Savings Plan.

“Every child deserves the opportunity to dream big and build a bright future,” said Treasurer Loftis. “National 529 Day is more than just a date on the calendar; it’s a celebration of possibility. Through the PalmettoBaby Grant presented by Future Scholar, we’re giving South Carolina families the opportunity to start building brighter futures from day one, helping turn today’s milestones into tomorrow’s possibilities.”

For more than a decade Future Scholar has partnered with hospitals across the state to celebrate families welcoming babies on May 29th. In addition to the opportunity to apply for a privately funded $529 Future Scholar grant, parents who give birth at a participating hospital will receive a PalmettoBaby goody bag filled with keepsakes and information about the Future Scholar 529 College Saving Plan.

Administered by the State Treasurer’s Office, Future Scholar has helped South Carolina families save billions of dollars for education expenses and has become one of the fastest-growing 529 plans in the country. The plan offers flexible investment options, easy online enrollment and valuable tax advantages that help families maximize their savings over time.

Future Scholar funds can be used for much more than traditional college tuition. Savings can help cover the cost of technical colleges, trade schools, graduate programs, registered apprenticeship programs, K-12 tuition, books, housing, computers, student loan repayment and more. Contributions are tax-deductible on the South Carolina state income tax return, and earnings grow tax-free when used for qualified expenses.

Parents of babies born on May 29th must submit a PalmettoBaby grant application and open a Future Scholar account by September 1, 2026, to receive the grant.