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South Carolina


South Carolina Tuition Prepayment Program


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

Summary
The South Carolina Tuition Prepayment Program has been closed to new enrollments until further action by the South Carolina General Assembly. The program offered two-year or four-year tuition packages to South Carolina families.

Program Details
Summary: The South Carolina Tuition Prepayment Program has been closed to new enrollments until further action by the South Carolina General Assembly. The program offered two-year or four-year tuition packages to South Carolina families.
Program type: Prepaid contract
Enrollment period: The most recent enrollment period ran from March 1 through May 31, 2006. It has been closed to new enrollment and will not reopen until the S.C. General Assembly authorizes the program to accept new participants.
State residency requirements: The beneficiary must be a South Carolina resident for at least 12 months prior to program enrollment .
Contract prices: For the Spring 2006 enrollment period, prices ranged from as little as $17,088 (tenth grader) for the two-year plan to as much as $44,282 (infant) for the four-year plan. An extended monthly payment plan is available.
Are program benefits backed by the full faith and credit of the state? No
Are program benefits collateralized or guaranteed in any other way? Yes, the state legislature is required to consider, but not necessarily approve, an appropriation to return all payments plus 4% interest in the event the program is canceled.
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.
Web site: Click here to visit
Telephone: 1-888-772-4723
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