The ‘Best Gift’ You Can Give

Tuesday, December 20, 2016

Clothes can be outgrown. Toys can lose their appeal. But one gift they’ll never outgrow is the gift of an education. And what easier way to give that gift than to open a 529 college savings plan?

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As one nationally recognized finance expert wrote recently, “These tax-sheltered college savings incentives are easy to open, require no major investment decisions, and …will be appreciated far into the future.”

“And we couldn’t agree more with that assessment,” said South Carolina Treasurer Curtis Loftis.

As the administrator for South Carolina’s Future Scholar 529 College Savings Plan working in partnership with Columbia Threadneedle Investments, Loftis has often pointed to the far-reaching advantages of opening a 529 account.

“A Future Scholar account gives South Carolina’s children a path to fulfilling their college dreams,” he said.

And one of the more appealing features a Future Scholar plan offers is its ability to help with estate planning. Case in point: since 529 plans offer special exceptions to gift tax limitations, those who wish to contribute to a child’s education can give up to five times the allowable amount of the annual gift tax in one year.

“As I’ve been telling parents and grandparents all across South Carolina, a Future Scholar plan really is the smart, easy way to save for college,” Loftis said.

To read more on 529 plans and the “Best Gift” you can give this holiday season read on: http://www.huffingtonpost.com/terry-savage/best-gift----529-college_b_13312092.html

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

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