August 3, 2017
South Carolina’s Future Scholar 529 College Savings Plan reached a major program milestone by exceeding $3 billion in total assets under management.
June 2017 also marked the best June sales month in the 15-year history of the plan.
“We have worked to make Future Scholar one of the best college savings plans in the nation, and exceeding $3 billion in total assets reflects that effort,” State Treasurer Curtis Loftis said. His office administers the program.
“This milestone also demonstrates that more parents than ever understand the importance of investing for their child’s college education, and they are choosing Future Scholar to reach those college investing goals,” he said.
This year Future Scholar is celebrating its 15-year anniversary. Among the growth highlights:
• Total number of accounts has increased from 9,800 to over 134,000.
• Average account size has risen from $8,233 to $20,222.
• Contributions into the plan from South Carolinians have increased 28 percent over the previous year.
Residents of The T&D Region have taken advantage of the savings plan.
As of June 30, 2017:
• Orangeburg County has $8,488,080 in assets in 543 accounts.
• Calhoun County has $2,321,167 in assets in 99 accounts.
• Bamberg County has $1,608,972 in assets in 61 accounts.