Treasurer reminds parents of College Savings Month

COLUMBIA, S.C. (AP) — South Carolina Treasurer Curtis Loftis is encouraging parents to save for their children’s college education through the state’s Future Scholar program.

Loftis says treasurers across the country have proclaimed September as College Savings Month in an effort to highlight the benefits of education savings plans.

He says more than 50,000 South Carolinians are participating in the Future Scholar program. It’s designed to give families a tax deduction as they build up an account for their future college student.

Anyone can start a Future Scholar account and designate it to whomever they choose. Loftis suggests grandparents could set up an account as a gift.

Money in Future Scholar accounts can be used for tuition, housing and other education expenses at any two- or four-year college that’s eligible for federal financial aid.