SC Treasurer Curtis Loftis talks about 529 Day

SC Treasurer, Curtis Loftis talks about Future Scholar / 529 Savings Plan, and how you can save for your kid's college education. Also, there is a special grant that we discuss in this episode of the podcast.

Episode Transcript

(00:00):
Hey, it's Dennis Davis on iHeartRadioon the line with South Carolina State Treasurer
Curtis Loftus. Welcome to the show. Well thanks, Dennis, I appreciate
you having me. I'm really excitedto chat with you today, namely about
this very special event, twenty nineday Palmetto Baby. Before we get into

(00:21):
that, I wanted to start bytalking about the five twenty nine Planned Future
Scholar. Can you take us through, like a real brief description of what
it means to truly save for collegein this very efficient way I can.
In fact, we're kind of slowlychanging the name the SA saving for Education
because it now allows people to payKate do twelve tuition at private schools.

(00:45):
Christian School didn't type private school.And in addition to trade school, tech
school, junior college, four yeardegree, or you know, your masters
are your law or medical degree,it covers the whole gambit now. And
it's not just any accredit school inSouth Carolina, but any accredited school all
costs across the country, and there'sactually about six or seven hundred of them

(01:07):
outside of the country. So theopportunities are just there. But what you
have to do is you have tostart saving, and it's easy to do.
You set up an account at futurescholar dot com. Future scholar dot
com. It's easy, and forsome reason you can't get it done.
There's an eight hundred number where someonein America picks up your phone or talk
to You'll walk it through and ifyou can't get that done, call me.

(01:30):
I'll come see you. And wehave over two hundred thousand people involved
in this program and it's important tous because that everybody's saving for some type
of education. Five twenty nine day, can you tell us about this great
feature event that you guys have insupport of Future Scholar in the five twenty
nine plan with South Carolina five twentynine plan. You know in finance we

(01:53):
have bored and things. That's actuallyTHEURS Code five twenty nine if you can
believe that. Well, it's alsomade the twenty ninth. So if you
have a baby born on May thetwenty ninth in South Carolina, we're gonna
one congratulate, just two. We'regonna give you a little bit of swag,
you know, because we partnered withthe hospitals and things, so you
get some you know, rubber ductsor something. I don't know what they're

(02:13):
a little onesies. But the mostimportant thing is that we have a privately
funded five twenty nine dollars grant thatgoes into your savings account. And of
course these these IRA plan, Imean these plans work a lot like an
IRA. You know, you putthe money in the plan, it grows
tax free, you take it outtax free as long as you spend it
on these educational expenses. So it'sa quick and easy way to save for

(02:36):
college, our private school, andit's tax advantage of the five to nine
day where we help babies. That'sa great way just for us to go
talk about it some more now,to learn more and to apply log on
future scholar dot com, forward slashpalmetto baby and that's get all the info

(02:58):
and do share with Maybe you haveone in the family that's expecting right around
May twenty nine, maybe you havesomeone at church. But do spread the
word and thank you for hearing ithere, and of course, treasurer of
Loftus, thank you so much forjoining us to tell us about five twenty
nine day and the Future Scholar program. Thank you Dennis. Thanks the station
manager for letting us have some timeto speak to y'all's listeners. Bye, I know