South Carolina 529 Plan
South Carolina offers one 529 plan, a traditional 529 plan called Future Scholar 529 College Savings Plan.
Future Scholar 529 College Savings Plan
Future Scholar 529 College Savings Plan is a traditional 529 plan that allows you to invest money today and reap
tax benefits when you withdraw it to pay for qualified education expenses.
Type: Direct and Advisor. If either the account owner or beneficiary (or both) is
an in-state resident, you have the choice of a direct or advisor plan. Out-of-state residents have the option
of the advisor plan. If you choose to follow through with the advisor plan, please contact a financial
advisor in your state for assistance.
Fund Family: Columbia Management Group, LLC
Minimums: To get started you can deposit $250 or set up an automatic monthly plan or
payroll deduction plan for $50 a month. Minimum subsequent contributions are $50.
Maximum Contributions: Currently, you can contribute until your account balance reaches
$370,000 in your South Carolina 529 plan. Of course, your total amount in the plan can be higher as your
investments group. 529 plans typically increase the contribution limit over time, so you may be able to
Tax Benefits: Good news for South Carolina residents - by investing in your state’s 529
plan, every dollar contributed can be deducted from your adjusted gross income. You also get federal income
tax benefits as you do not pay income tax on your earnings. Out-of-state participants still get the federal
Other Benefits: Through your Future Scholar 529 College Savings Plan, you have the option
to be a part of a reward program set up by Upromise®. By making purchases with your card, the reward program
offers a percentage of purchases that convert into rewards points, and ultimately convert into account
Residency: Future Scholar 529 College Savings Plan’s advisor plan is open to all United
States residents, and the direct plan is only open to South Carolina residents (either account owner or
You can learn more about this South Carolina 529 plan at the official website http://www.futurescholar.com/UserRelationship/UserRelationshipPage.htm.