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State of SC Kicks Off College Savings Plan Tax-Deduction Campaign

February 12, 2009

Malyerck, Scott

For Immediate Release: February 12, 2009

Contact: Scott Malyerck (O) 803.734.2665 (C) 803.446.2881

STATE KICKS OFF COLLEGE SAVINGS PLAN CAMPAIGN

“Future Scholar” 529 College Savings Plan Now Rated among in Top 5 nationwide

(Columbia, SC)….The State Treasurer’s Office announced today a statewide effort to get South Carolinians who are planning to send

a child to college, to begin saving with South Carolina’s “Future Scholar” 529 College Savings Plan. If a Future Scholar account is opened,

or contributed to by April 15th, South Carolinians may be eligible for a state tax deduction.

“With college tuition rates continuing to soar, it’s a smart way to save for a child’s higher education,” said State Treasurer Converse Chellis.

The program will be promoted through television and radio across the state beginning this Saturday.

Senator Chip Campsen from Charleston County, who helped create the program, said “To help families start saving early for the rising costs of higher education, the State Treasurer’s Office administers one of the highest ranked 529 plans in the country, the Future Scholar Program. I am proud to have authored the legislation creating the Future Scholar 529 Program and believe in it so much that I have enrolled my own children in Future Scholar. By wisely saving and investing today, you can save early and often for tomorrow’s college education of a ‘future scholar’ in your life.”

Future Scholar was recently ranked as one of the top five college savings programs in the nation by Saving for College.com, one of the the leading websites

in the country for ranking college savings programs.

Senator John Courson from Richland County, Chairman of the Senate Education Committee, said “Higher education is so important for the future of South Carolina’s children and for the future of South Carolina. Future Scholar helps families start thinking about saving for the costs of a college education early so that dreams of higher education can become a reality. I would encourage parents and grandparents all over the state to consider Future Scholar when planning for a child’s future.”

Anyone can open an account for as little as $250 and choose from many diverse investment plans. Accounts may be opened for anyone including grandchildren,

nieces, and nephews. There are over 45,000 South Carolinians now enrolled in the Future Scholar Program.

Chairman of the House Education and Public Works Committee, Representative Phil Owens from Pickens County, said “With Future Scholar, South Carolina residents can save for higher education costs while saving on their taxes at the same time. Future Scholar helps you pay less in taxes so your savings can grow faster. Future Scholar is a smart and easy way to save for your family’s future.”

No tax dollars are used to administer or advertise the program.

South Carolina residents can learn more about the program by going to the State Treasurer’s website http://www.treasurer.sc.gov and clicking on the “Future
Scholar” logo.

Scott M. Malyerck
Deputy State Treasurer
State of South Carolina
(O) (803) 734-2665
(C) (803) 446-2881
(F) (803) 734-2690
scott.malyerck@sto.sc.gov

2 Comments leave one →
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