S.C. 529 Ranked #2 in Nation

Saving for College.com has just released its performance rankings for states’ 529 College Savings Plans. South Carolina’s Future Scholar Plan was ranked #2 in the nation, just behind Florida. The Future Scholar Savings Plan is administered by the State Treasurer’s Office.

Saving for College.com is a nationally recognized website that compares and analyzes 529 College Savings Programs from around the country. They also analyze the investment performance figures for thousands of 529 portfolios and rank the 529 savings plans from best to worst for one-year investment performance. These rankings are for a one-year period ending Dec. 31, 2008.

“We are extremely happy to hear that the performance of our Future Scholar College Savings Plan is second in the nation. While there has been a steep downturn in the market, South Carolina’s plan has outperformed every other state’s plan except one….and that’s significant,” said State Treasurer Converse Chellis.

The Future Scholar Program is a way for families to save for qualified higher education expenses such as tuition, room and board, books, and supplies. Contributions are tax deductible from South Carolina state income taxes. The plan offers many diverse investment options. The minimun investment to open an account is only $250.

There are approximately 78,000 thousand participants in South Carolina’s Future Scholar Program.