What is Future Scholar?
Future Scholar is South Carolina’s 529 College Savings Plan. And what is a 529 plan? It’s a savings plan designed specifically for paying for higher education. The money contributed is tax-deductible, and when you withdraw the funds, the earnings are also tax-free (state and federal), as long as the funds are used to pay for qualified educational expenses.
Every state offers a 529 plan as an option for saving and paying for higher education, but each state differs in how the plans are managed, as well as the benefits they offer. South Carolina’s Future Scholar 529 plan has been recognized as one of the best in the country. The plan has earned this recognition for its low fees, plus its tax advantages.
This month, Future Scholar is celebrating National 529 Day on May 29, and they want to help you get started by sharing some of the top reasons to start saving for your child’s education now.
It’s Easy
Setting up a 529 account was so easy with Future Scholar. All you have to do to get started is visit their enrollment page! Contributions are easy too and can be set up as automatic contributions or done manually if, and when, you are financially able. And with Future Scholar’s gifting options, it’s also super easy for friends and family to contribute to the account as well!
It’s Flexible
Your child doesn’t have to choose a specific path for higher education to utilize a Future Scholar 529 College Savings Plan. Whether your child chooses a public or private university, a two-year tech school, graduate school, trade school, or even an apprenticeship program, your Future Scholar 529 plan can be used to fund that choice.
Anyone Can Contribute
Anyone in the family that wants to contribute can do so, even friends! Plus, the contributions are deductible on your South Carolina state income taxes.
Timing is Everything
The sooner you start saving with Future Scholar, the more time you have to reach your investment goals, and the less your child may have to borrow down the line.
Giveaway :: A privately funded $529 grant to a new or existing Future Scholar account!
As an added bonus, Future Scholar is giving one lucky winner a $529 grant to add to a new or existing Future Scholar 529 Account! This is a wonderful way to start saving for your child’s education, or add to what you’ve already saved with Future Scholar! {Must be a South Carolina resident to enter.}
By entering this giveaway, you will also be subscribed to Columbia Mom’s email distribution list which keeps you informed of the latest offers, news and special event information.
