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Future Scholar 529 College Savings Plan (Advisor-sold)
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. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- State agencyOffice of the State Treasurer
- Tax deductionTax deduction for single filers No limitTax deduction for joint filers No limit
- Program ManagerColumbia Management Investment Distributors, Inc.
- Program distributorColumbia Management Investment Distributors, Inc.
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.
Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.
State residency requirements:None
Who can be a participant/owner in the program?U.S. citizens and resident aliens and UGMA/UTMA custodians. The Treasurer and Program Manager may permit other persons and legal entities to open accounts; joint ownership by spouses is permitted.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in South Carolina's 529 plans for the same beneficiary reach $500,000.
Minimum contributions:With lump-sum contributions, the minimum initial contribution is $100, and the minimum subsequent contribution is $25. With the automatic investment plan, there are no minimum payments.
Age-based investment options:The Age-Based Portfolios option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 6 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and based on the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.View more age-based investment options
Static investment options:Select among 7 Target Allocation portfolios (Aggressive Growth, Growth, Moderate Growth, Moderate, Moderately Conservative, Conservative and College), 21 individual-fund portfolios, a money market fund, and a bank deposit account.View more static investment options
Underlying investments:Mutual funds from Columbia, American Century, DFA, Fidelity, Janus, JP Morgan, MFS, Nuveen Wislow, and Franklin Templeton, ETFs from iShares, and a BB&T bank deposit account.View a full list of this plan's investment options
Underlying fund allocations:UNLOCK PRO
Portfolio Fees & Performance LookupUNLOCK PRO
Fees & Expenses
Enrollment or application fee:None, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee:$25 annually for accounts with less than $10,000, waived for South Carolina residents and state employees, and for accounts in the automatic contribution plan.
Program management fees:Management fee:
0.06% on average daily net assets of each portfolio up to $1,499,999,000
0.05% on average daily net assets of each portfolio from $1,500,000,000 - $1,999,999,000
0.04% on average daily net assets of each portfolio from $2,000,000,000 - $2,499,999,000
0.04% on average daily net assets of each portfolio over $2,500,000,000
(None for Columbia Bank Deposit 529 Porfolio)
0.10% fee to the state, plus distribution/servicing fees of 0.15% - 0.25% (Class A), 0.75% - 1.00% (Class C), 0.50% (Class E), or none (Class I)
Expenses of the underlying investments:Ranges from 0.36% to 0.56% (portfolio weighted average) in the age-based and static portfolios, from 0.15% to 0.88% in the individual-fund portfolios. None for the Bank Deposit portfolio.
Total asset-based expense ratio:Class A: 0.00% - 1.29%
Class C: 0.00% - 2.04%
Class E: 0.00% - 1.54%
Class I: 0.00% - 1.04%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filersNo limit
- Tax deduction for joint filersNo limit
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.