Save for your child’s education while saving on your South Carolina state income taxes

When you contribute to a Future Scholar 529 College Savings Plan, you can save for your child’s future and save on your state income taxes all at the same time.

A state income tax deduction of up to 100% of contributions to a Future Scholar 529 plan is available for South Carolina tax payers.1 If you file a resident or non-resident South Carolina state income tax return, you may be eligible for a tax-deductible contribution.

  • Make a contribution to a Future Scholar 529 plan by April 15th. Calculate your estimated tax savings.
  • Report your contribution on your 2013 South Carolina state income tax return when you file.

Benefits of Future Scholar

You can begin saving for your loved one’s college education with whatever amount you are comfortable with, or use the Automatic Investment Plan to transfer $25 or more each month from your checking or savings account, making it easy to start saving.


Future Scholar allows you to:
  • Manage your assets and choose from a broad range of investment options (conditions apply)
  • Benefit from valuable tax advantages — Future Scholar earnings are exempt from federal income taxes, and a state income tax deduction of up to 100% of your contributions is available for South Carolina tax payers.1
    Calculate your estimated tax savings
  • Use account assets for tuition, room and board, and books at any eligible institution in the world

How do I get started?

See how much you may need to save for college using the Education Funding Planner or one of our other tools.

Enroll online in Future Scholar in only a few simple steps.

1 You may be eligible to deduct your Future Scholar contributions from your South Carolina state income tax return, up to the maximum account balance limit of $370,000 or any lower limit under applicable law. Lower limits may be set by South Carolina state law. Distributions not used for qualified education expenses must be included in South Carolina gross income to the extent those amounts were previously deducted from South Carolina taxable income. Nonqualified withdrawals will be subject to a federally mandated 10% penalty on earnings. Additionally, any earnings will be subject to any applicable federal and state taxes at the account owner’s current tax rate.

Please consider the investment objectives, risks, charges and expenses carefully before investing. Contact your financial advisor or visit columbiamanagement.com for a Program Description, which contains this and other important information about the Future Scholar 529 College Savings Plan. Read it carefully before investing. You should also consider, before investing, whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.

The Office of State Treasurer of South Carolina (the State Treasurer) administers the Program and has selected Columbia Management Investment Advisers, LLC and Columbia Management Investment Distributors, Inc. (Columbia Management) as Program Manager. Columbia Management and its affiliates are responsible for providing certain administrative, recordkeeping and investment services, and for the marketing of the Program. Columbia Management is not affiliated with the State Treasurer.

Please remember there’s always the potential of losing money when you invest in securities.

Participation in the Direct Plan is limited to a select group of investors, as described in the Program Description. You may also participate in the Advisor Plan, which is sold exclusively through financial advisors. The Advisor Plan offers additional investment choices, but the fees and expenses are higher. Please refer to the Program Description for more information.

Tax treatment varies by state. For residents of states other than South Carolina: Favorable state tax treatment for investing in a Section 529 college savings plan may be limited to investments in a Section 529 plan offered by your home state. You should consult with your tax advisor about any state or local taxes before making any tax-related decisions. The tax information set forth in this brochure is general in nature and does not constitute tax advice on the part of Columbia Management Investment Distributors, Inc., its affiliates or the South Carolina Office of the State Treasurer.

© 2014 Columbia Management Investment Advisers, LLC. All rights reserved.

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Useful Information

Learn More about Future Scholar

Use the Education Funding Planner or one of our other tools to see how much you may need for college

Frequently asked questions