South Carolina has two Future Scholar 529 savings plans. The South Carolina 529 plan is an "above the line" income adjustment. South Carolina has it's own state-operated 529 plan called Future Scholar 529 College Savings Plan. The Future Scholar 529 College Savings Plan is only available to residents of South Carolina. While playing the stock market may yield higher returns on your investment, placing your money into a 529 plan allows it to grow in a tax free environment. Home • Once entered, we will send a reset link to the email address you specified. There are no sales charges with these plans.
Contributions are restricted by beneficiary, so you can contribute to multiple people, but the maximum to a single beneficiary, across all of their 529 accounts, cannot be more than $500,000. Contract-type prepaid plans can be purchased to cover between 1 to 5 years of future tuition either on a lump sum or installment basis.
This means residents can claim it even if they do not itemize their other deductions (opting for the standard deduction). Enter your e-mail address and password to login.
You will have to rely on your own research to identify your best options, or you can hire a fee-based financial planner. Residents of South Carolina who are contributing to South Carolina’s 529 plan, Future Scholar, can also enjoy an unlimited deduction on SC state income tax. The direct-sold plan is available only to South Carolina residents while the advisor-sold plan is sold nationally. The latest articles and tips to help parents stay on track with saving and paying for college, delivered to your inbox every week. If you use a mail filtering tool make sure you allow email from support@savingforcollege.com prior to submitting the request. All Rights Reserved, 529 Savings Calculator for Private K-12 Tuition, Revised Pay As You Earn Repayment Calculator, Future Scholar 529 College Savings Plan (Direct-sold), Future Scholar 529 College Savings Plan (Advisor-sold). $42 annually, assessed at $3.50 per month. The Best College Scholarship Search Websites, How To Find The Best Student Loans And Rates, Student Loan And Financial Aid Programs By State, Student Loan Forgiveness: 80+ Programs To Forgive Your Loans, The Full List Of Student Loan Forgiveness Programs By State, The Definitive Guide To Student Loan Debt: Everything To Know About Your Loans, Best Student Loan Refinancing Bonuses And Promotional Offers, The Best Investing Apps That Let You Invest For Free In 2020, Best Online Stock Brokers In 2020 (According To Readers), The Best Traditional And Roth IRA Accounts Of 2020, The Cheapest Investing Platforms And Robo-Advisors, How To Start Investing In Your Twenties After College For 22 – 29 Year Olds, What Is Dividend Growth Investing And How to Get Started, 15 Best Side Hustles You Can Start Earning With Now, Side Hustle Ideas: 50+ Ways To Make Money Fast, 100+ Real And Honest Ways To Make Money In College, High-Paying Side Gigs That Earn $1,000 or More Per Month, 80 Ways To Make Money From Home (In Your Pajamas), 5 Quick Money Making Ideas (That Take Less Than 1 Hour), 3 Ways To Make $50,000 Per Year Without Working With Passive Income, 30 Passive Income Ideas You Can Use to Build Real Wealth, The Best Business Checking Accounts For Small Business.
Once entered, we will send a key to the e-mail address you specified. News • As these costs steadily rise every year, parents are looking for ways to help offset these future higher education costs. There is also no income phase-out or limits for this deduction making it a great option for high income parents or grandparents who file income tax in the Palmetto State. It also has a program management fee of 0.19%. Enter your email address to begin the reset password process. 529 plan funds can be used at any accredited college or university across the nation, including some K-12 private schools! Privacy Policy. About • What Is Federal Work-Study and How Much Does It Pay for College? The minimum subsequent contribution amount is $1.
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