South Carolina babies born on National 529 Day will be eligible for a privately funded $529 college savings grant, according to the S.C. State Treasurer’s Office.
Based on a release from S.C. State Treasurer.
South Carolina babies born on May 29 will be eligible to receive a privately funded $529 PalmettoBaby grant in celebration of National 529 Day, according to the S.C. State Treasurer’s Office.
State Treasurer Curtis Loftis announced the return of the PalmettoBaby Grant Program, which helps families start saving for education from the first day of a child’s life through South Carolina’s Future Scholar 529 College Savings Plan, according to the office.
“Every child deserves the opportunity to dream big and build a bright future,” Loftis said. “National 529 Day is more than just a date on the calendar; it’s a celebration of possibility. Through the PalmettoBaby Grant presented by Future Scholar, we’re giving South Carolina families the opportunity to start building brighter futures from day one, helping turn today’s milestones into tomorrow’s possibilities.”
For more than a decade, Future Scholar has partnered with hospitals across the state to celebrate families welcoming babies on May 29, according to the office. Parents who give birth at a participating hospital will also receive a PalmettoBaby goody bag with keepsakes and information about the 529 plan, according to the office.
Future Scholar is administered by the State Treasurer’s Office and has helped South Carolina families save billions of dollars for education expenses, according to the office. The plan offers flexible investment options, online enrollment and tax advantages, according to the office.
Funds can be used for technical colleges, trade schools, graduate programs, registered apprenticeship programs, K-12 tuition, books, housing, computers and student loan repayment, according to the office. Contributions are tax-deductible on the South Carolina state income tax return, and earnings grow tax-free when used for qualified expenses, according to the office.
Parents of babies born on May 29 must submit a PalmettoBaby grant application and open a Future Scholar account by Sept. 1, 2026, to receive the grant, according to the office. More information is available through the Future Scholar PalmettoBaby Program.
