Future Scholar earns Bronze rating
Thursday, November 6, 2014
South Carolina’s Future Scholar 529 College Savings Plan earned a Bronze rating by Morningstar, a leading provider of independent investment research. South Carolina’s plan was recognized as just one of 29 national plans likely to outperform their peers on a long-term, risk-adjusted basis.
Morningstar evaluates college-savings plans based on five key pillars – Process, Performance, People, Parent and Price -- and assigned ratings of Gold, Silver, Bronze, Neutral and Negative ratings. South Carolina’s Future Scholar plan maintained its 2013 Bronze rating.
“We’re pleased that Morningstar continues to rate our college-savings plan as one of the best in the country,” said South Carolina State Treasurer Curtis Loftis. “We’ve eliminated program management fees and reduced expenses for South Carolina residents.”
The Future Scholar 529 College Savings Plan is sponsored by the State of South Carolina and administered by the South Carolina State Treasurer’s Office.
“One of the most important ways we can help our children achieve success is to clear a path towards higher education,” said Loftis. “We’ve worked hard to reduce costs and to provide the best tax benefits for South Carolinians.”
In February, The Wall Street Journal recognized South Carolina as having the highest state tax deduction in the country for investing in the state-sponsored 529 plan.
Money invested in the 529 plan can be used to pay qualified education costs at eligible institutions in any state, and some international schools. This includes two- and four-year public and private colleges, graduate and professional programs, and certain vocational-technical schools.
“The Future Scholar Plan is the smart way to save money for your child’s college education,” said Loftis. “Funds can be used for tuition, fees, room, board and other education-related expenses.”
To open an account or to get more information about the Future Scholar 529 College Savings Plan, visit www.futurescholar.com or call 888-244-5674.