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SC Future Scholar Direct 529 Colleg |
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State Provider: South Carolina; Net Assets ($mil):
$269.6 as of
10-31-09 |
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Of South Carolina's two 529 college-savings plans, we favor this one. A direct-sold option, it lacks the flexibility of its advisor-sold sibling, but, unlike that offering, it is competitively priced. Aside from a $25 annual maintenance fee (which is waived for in-state residents), it charges a reasonable 0.20% management fee on top of underlying fund expenses, so investors are paying anything from 0.30% to 0.59% in annual asset-based fees. And while investors don't have a plethora of investment choices at the fingertips, the underlying funds are reasonably solid offerings. In-state college savers also benefit from South Carolina's generous tax benefits: They can deduct all contributions from their annual state taxes. So while the plan's limited options curb its appeal to out-of-staters, we think residents have reason to give it a look. (Information as of 02/26/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$318,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Public, Private & International
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Age-Based Portfolios
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| Static Portfolios and Self-Directed Funds |
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| US Stock
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Bond |
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| Total International Funds: 24 |
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| Underlying Funds’ Ratings |
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| Overall Morningstar Rating |
# Equity
Funds |
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# Bond
Funds |
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| Ratings as of
10-31-09 |
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| Range |
0.2 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
50 |
50 |
| Additional (AIP) |
50 |
50 |
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