State Treasurer Curtis Loftis announced that South Carolina’s Future Scholar 529 College Savings Plan is celebrating National 529 College Savings Day (May 29) once again with its popular PalmettoBaby Grant Program. (The Chisholm Family is pictured in feature photo.)
The annual program, which is in its ninth year, promotes the importance of saving for college in collaboration with hospitals across the Palmetto State and provides an opportunity for South Carolina families with babies born on May 29 (5/29) to obtain a privately-funded $529 grant toward a Future Scholar college savings account.
“We enjoy reminding parents about the need to save for college all year-round,” Treasurer Loftis explained. “But on May 29th, we kick it up a notch with our popular PalmettoBaby grant program. It’s a fun way to celebrate National 529 Day, and we know these new parents are thrilled for the chance to jumpstart their newborn’s savings with a $529 grant for their child’s future education.”
To receive the PalmettoBaby grant, parents of babies born on May 29 must complete the grant application and open a Future Scholar account by August 31, 2021.
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 FutureScholar.com/news-events/PalmettoBaby to learn more about the PalmettoBaby Grant Program and its eligibility guidelines.
About Future Scholar
Future Scholar is South Carolina’s 529 College Savings Plan, administered by the State Treasurer’s Office. The plan recently surpassed $5 billion in assets under management and is credited with helping more South Carolina families save for their loved ones’ future education than ever before. For more information, visit FutureScholar.com or follow @SCStateTreasurer on Facebook. No state funds are used to market Future Scholar.