OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Issue Position: Future Scholar 529 Program

Issue Position

Date: Jan. 1, 2014
Issues: Technology and Communication Minors and Children Finance and Banking Higher Education

Rebidding the contract for the first time since the inception of the program..

Plan participants now have lower fees and expanded investment options.

SC Future Scholar is ranked among the lowest cost plans in the nation.

Record account and sales growth:
64% increase in sales for the direct plan;
48% increase in sales for the advisor plan;
Over 102,000 accounts have now been opened.

Received a 5-Cap (star) rating from Saving For College, the industry rating agency.

Launched "Future Scholar Day" on 5/29 as part of the promotional Palmetto Baby Grant Program which awards $529 to any family that opens an account for a child born on 5/29.
26 Babies participated--well above actuary and internal estimates of 4-6.

Future Scholar operates without the use of any State appropriated funds.

Manage $2 billion in assets for participants.

Program website underwent major updates resulting in increased efficiencies, usability, and increased online options.

Future Scholar call center earned the top rating for the fifth consecutive year from National Quality Review.

Conducted public outreach campaigns at maternity events, school districts, institutions of higher and via social and electronic media.


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