Information for Investors
As college costs continue to rise, now may be the best time to consider a 529 college savings plan. As a qualified tuition savings plan under Section 529 of the Internal Revenue Code, a 529 plan provides investors with a smarter way to plan for a child’s college education by offering tax advantages, gifting and estate planning benefits, flexibility and control.
Key benefits of a 529 college savings plan
We have the tools you need
In addition to the important benefits of a 529 plan, the plan also offers these advantages:
- An expanded, multi-managed investment lineup
- Low fees — one of the lowest-cost advisor-sold plans in the country2
- High contribution limit of $400,000
- Joint ownership of accounts
- The strength and stability of a well-known asset manager — Columbia Threadneedle Investments
Benefits for South Carolina taxpayers
The Future Scholar 529 Plan is sponsored by the South Carolina Office of the State Treasurer and offers South Carolina taxpayers additional tax advantages. Contributions up to the maximum account limit of $400,000 per beneficiary are tax deductible from a client’s South Carolina state income taxes.3
- View pricing and performance
- Future Scholar Program Overview Brochure
- All Plan Literature
- Account Applications
- Service Forms
Take a deeper look at the Future Scholar 529 Plan. Learn about benefits, pricing, performance information and more.
- Information for Financial Professionals
1 Withdrawal of earnings not used for qualified higher education expenses will be subject to federal and possibly state and local income tax and may be subject to an additional 10% penalty.
2 Among the lowest 10th percentile based on Offering Statements and Program Descriptions of 529 plan distributors as provided to Savingforcollege.com.
3 Contributions to a Future Scholar account are tax deductible for South Carolina residents. If you file a resident or non-resident South Carolina tax return, you may be eligible to deduct your Future Scholar contributions from your South Carolina state income tax return, up to the maximum account balance limit of $400,000 (or any lower limit under applicable law). When you withdraw money to pay for qualified higher education expenses, you pay no South Carolina state income tax on your withdrawals. Grow any potential earnings on contributions state- and federal-income-tax-free while invested in their account.