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.
- 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
- Telephone: 1-888-772-4723
- Web site: Click here to visit
- 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.