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South Carolina


Future Scholar 529 College Savings Plan (Advisor-sold)


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
South Carolina's Future Scholar 529 College Savings Plan (Advisor-sold) features an extensive menu of age-based and static portfolio options utilizing mutual funds from Columbia and a number of other fund families. Although sharing the same program name, the advisor-sold Future Scholar is significantly different from South Carolina's direct-sold Future Scholar, using actively-managed funds and index funds.

Program Details
Summary: South Carolina's Future Scholar 529 College Savings Plan (Advisor-sold) features an extensive menu of age-based and static portfolio options utilizing mutual funds from Columbia and a number of other fund families. Although sharing the same program name, the advisor-sold Future Scholar is significantly different from South Carolina's direct-sold Future Scholar, using actively-managed funds and index funds.
Program type: Savings
Program manager: Columbia Management Investment Distributors, Inc.
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in South Carolina's 529 plans for the same beneficiary reach $370,000.
Minimum contributions: With lump-sum contributions, the minimum initial contribution is $100, and the minimum subsequent contribution is $25. With the automatic investment plan, there are no minimum payments.
Age-based investment options: The Age-Based Portfolios option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 6 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and based on the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Static investment options: Select among 7 Target Allocation portfolios (Aggressive Growth, Growth, Moderate Growth, Moderate, Moderately Conservative, Conservative and College), 21 individual-fund portfolios, a money market fund, and a bank deposit account.
Underlying investments: Mutual funds from Columbia, American Century, DFA, Fidelity, JP Morgan, MFS, Nuveen Wislow, and Franklin Templeton, ETFs from iShares, and a BB&T bank deposit account.
Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee: $25 annually for accounts with less than $10,000, waived for South Carolina residents and state employees, and for accounts in the automatic contribution plan.
Program management fees: Management fee:
0.06% on average daily net assets of each portfolio up to $1,499,999,000
0.05% on average daily net assets of each portfolio from $1,500,000,000 - $1,999,999,000
0.04% on average daily net assets of each portfolio from $2,000,000,000 - $2,499,999,000
0.04% on average daily net assets of each portfolio over $2,500,000,000
(None for Columbia Bank Deposit 529 Porfolio)

0.10% fee to the state, plus distribution/servicing fees of 0.15% - 0.25% (Class A), 0.75% - 1.00% (Class C), 0.50% (Class E), or none (Class Z)
Expenses of the underlying investments: Ranges from 0.36% to 0.67% (portfolio weighted average) in the age-based and static portfolios, from 0.13% to 0.93% in the individual-fund portfolios. None for the Bank Deposit portfolio.
Total asset-based expense ratio: Class A: 0.00% - 1.34%
Class C: 0.00% - 2.09%
Class E: 0.00% - 1.59%
Class Z: 0.00% - 1.09%
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions, Including rollover contributions, to a South Carolina 529 plan are fully deductible in computing South Carolina taxable income. Contribution deadline: April 15 of the following year.
Web site: Click here to visit
Telephone: 1-888-244-5674
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