3 Reasons Why You Should Open a 529 College Savings Plan – Today!

Thursday, September 21, 2017

Still not sure if opening a Future Scholar 529 College Savings Plan is right for your family?

If it’s even remotely possible your child may someday attend college, here are three reasons why you should jump on opening an account – today!Adams Istock Dad And Son Laptop

1. Time

The Rolling Stones weren’t kidding – time really is on your side. Unlike other savings goals such as saving for retirement, setting money aside for college comes with a much shorter window of time.

That’s why it’s so important to start as early as possible so that your money will have time to grow and your investments will earn their maximum potential. 

2. Tax-Free Savings

If you file a South Carolina tax return, you can receive a dollar-for-dollar deduction on the contributions made to your Future Scholar account.

What’s more, savings grow free from federal and state income taxes. Withdrawals are also tax-free as long as the money is used for qualified higher education expenses.

3. High Marks

While all 529 college savings plans are similar, not all 529 plans are the same. South Carolina’s Future Scholar plan, for example, is highly rated.

Future Scholar not only received 5 out of 5 caps from savingforcollege.com and a bronze rating from Morningstar® on both Direct and Advisor-sold plans, it was also recognized as an industry leader for its low fees.

“Find out what thousands of investors have already discovered about South Carolina’s Future Scholar 529 College Savings Plan,” said South Carolina Treasurer Curtis Loftis. “Future Scholar provides one of the best savings options to combat rising college costs and minimize potential student loan debt. It really is the smart, easy way to save for college.”

To learn more about 529 plans, read on:

http://www.marketwatch.com/story/6-things-parents-need-to-know-about-529-tax-deductions-2017-08-03

To open a Future Scholar account today visit www.FutureScholar.com.

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Interim Media Contact:
Edward Frazier
edward.frazier@sto.sc.gov
803.734.2016

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