Celebrate National 529 Day with $529 college savings grants

For the 12th year, babies born on May 29 are eligible to receive PalmettoBaby grant for their future education.

State Treasurer Curtis Loftis announced the return of the grant program in celebration of National 529 Day. Observed annually on May 29, the day provides an important reminder to families and friends of how easy it is to help save for a child’s future education.

“Each year, I like to remind South Carolina families about our award-winning Future Scholar 529 College Savings Plan  that can help them save for their loved ones’ future education,” said Loftis. “We are pleased to offer privately funded $529 grants to the parents of every South Carolina baby born on May 29 in hopes that we are helping set these new babies on a course for lifelong saving.”

Since 2012, the State Treasurer’s Office has partnered with hospitals across South Carolina to promote the importance of saving for college through the PalmettoBaby Grant Program.

In addition to the opportunity to secure a $529 college savings grant, South Carolina parents who give birth on May 29 receive a Future Scholar goody bag, which includes information about the state’s college savings plan.

To receive the PalmettoBaby grant, parents of babies born on May 29 must complete the grant application online and open a Future Scholar account by Sept. 3.

Future Scholar allows families to save for their children’s future education expenses with opportunities for tax-deductible contributions from state income taxes, tax-free growth and tax-free distributions for qualified education expenses. Future Scholar 529 funds can be used for K-12 tuition, trade schools, registered apprenticeship programs and student loan repayment.

Visit FutureScholar.com/PalmettoBaby to learn more about the PalmettoBaby Grant Program and its eligibility guidelines.

Daniel Island Publishing

225 Seven Farms Drive
Unit 108
Daniel Island, SC 29492 

Office Number: 843-856-1999
Fax Number: 843-856-8555

 

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