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South Carolina 529 College Savings Plans
South Carolina has two Future Scholar 529 savings plans. The direct-sold plan is available only to South Carolina residents while the advisor-sold plan is sold nationally. The state’s prepaid tuition program is no longer accepting new enrollment.
South Carolina 529 Tax Benefit
Direct Sold Plans
The Future Scholar 529 College Savings plan offers multiple investment options from Vanguard and Columbia and a high maximum contribution limit of $575,000. Contributions to the plan by residents of South Carolina are fully deductible in computing South Carolina state income taxes. Note that the plan is only available to residents of South Carolina....
Advisor Sold Plans
South Carolina's Future Scholar 529 College Savings Plan (Advisor-sold) features an extensive menu of age-based and static portfolio options utilizing mutual funds from Columbia and a number of other fund families. Although sharing the same program name, the advisor-sold Future Scholar is significantly different from South Carolina's direct-sold Future Scholar, using actively-managed funds and index funds....
ABLE plans
The State of South Carolina has partnered with the State of Ohio to bring the Palmetto ABLE Savings Program, a program that offers the STABLE Account Plan to eligible South Carolina residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers....