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Grant to celebrate May 29 babies in S.C.

Staff Report //May 15, 2018//

Grant to celebrate May 29 babies in S.C.

Staff Report //May 15, 2018//

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South Carolina’s Future Scholar 529 College Savings Plan will again celebrate National 529 College Savings Day on May 29 with its PalmettoBaby Grant Program.

The annual program provides a privately funded $529 grant to each baby born in South Carolina on May 29 to put toward a Future Scholar account.

“Our annual PalmettoBaby grant program is a fun way to promote the importance of saving for college,” Loftis said in a news release. “It’s great to see the excitement of these new parents when they realize they are getting a jump start on saving for their child’s future education.”

The Future Scholar 529 College Savings Plan offers opportunities for tax-deductible contributions from state income taxes, tax-free growth and tax-free distributions for qualified education expenses.

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