State Treasurer Curtis Loftis announced this week that South Carolina’s Future Scholar 529 College Savings Plan would once again celebrate National 529 College Savings Day (May 29) with its PalmettoBaby Grant Program.
Loftis is from West Columbia and lives in West Columbia.
The annual program, which is in its seventh year, promotes the importance of families saving for college and provides a privately-funded $529 grant to each baby born in South Carolina on May 29 to put toward a Future Scholar account.
“We love reminding new and existing parents about the importance of saving for college,” Treasurer Loftis explained. “Our PalmettoBaby grant program is a fun way to celebrate National 529 Day, and it’s really fun to see the excitement of these new parents when they realize they are eligible to receive a $529 grant for their child’s future education.”
To receive the PalmettoBaby grant, parents of babies born on May 29 must submit a grant request form and open a Future Scholar account by August 30, 2019.
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.
Visit www.futurescholar.com/news-events/palmettobaby/ to learn more about the PalmettoBaby Grant Program.
About Future Scholar
Future Scholar is South Carolina’s 529 College Savings Plan. It is administered through the State Treasurer’s Office. For more information, visit FutureScholar.com or follow@SCStateTreasurer on Facebook. No state funds are used to market Future Scholar or fund the PalmettoBaby Grant Program.