Treasurer Loftis announces return of PalmettoBaby $529 College Savings Grant
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Columbia, S.C. (WOLO) – State Treasurer Curtis Loftis announced that South Carolina’s Future Scholar 529 College Savings Plan would again celebrate National 529 College Savings Day (5/29) with its PalmettoBaby Grant Program.
The annual program, aims to promote the importance of families saving for college, and provides a privately-funded $529 grant to baby born in South Carolina on May 29 to put toward a Future Scholar account.
“Our annual PalmettoBaby grant program is a fun way to promote the importance of saving for college,” Treasurer Loftis explained. “It’s great to see the excitement of these new parents when they realize they are getting a jumpstart on saving for their child’s future education.”
The Future Scholar 529 College Savings Plan offers families a smart and easy way to save for their children’s college education expenses with opportunities for tax-deductible contributions from state income taxes, tax-free growth and tax-free distributions for qualified education expenses.
“I’ve made helping families save for college a priority since I took office in 2011. Now, we have more than 150,000 accounts enrolled in Future Scholar, with $3.4 billion in assets managed,” Treasurer Loftis added.
Visit www.futurescholar.com/news-events/palmettobaby/ to learn more about the PalmettoBaby Grant Program.
