Activity details


Details and updates on Lake Pointe activities


529 Tax Plan Presentation

March 16, 2018
By LPA staff

WHO: All Lake Pointe families are invited

WHAT: As announced at the annual family meeting, Lake Pointe is hosting a special presentation about the changes to the 529 College Savings plan. 

WHEN:Tuesday, March 27 from 7:00 to 8:15 p.m.

To be addressed:

An excellent overview of college funding, in general

How the 529 program helps families save for college

The options of the 529 program, which has no significant risks

How the program can be used for private K/12 tuition with tax deductions in SC

How grandparents and other family members can fund a 529 AND keep control

Comments on legislative action for NC families

Expect a 40 minute presentation, with the balance set aside for Q&A

Our presenter
Ryan White works for Columbia Threadneedle, the company hired to manage South Carolina’s 529 program, called “Future Scholars.” Local investment professionals get their information through this broad management company.

To recap some highlights, congress approved tax law changes in December that allow parents to use funds from their 529 College Savings plan to pay for private K/12 tuition. This is a huge change and a huge benefit and worth discovering straight information on its benefits.

While the program is designed for long term savings, as the law is written, parents can use the 529 program as a “pass through.” Funds deposited in the account can be withdrawn in ten business days to pay for tuition, and that action entitles the family to 7 percent deduction on their SC tax returns, up to $10,000 tuition per child per year.

The tax program changes are in effect for tuition paid in 2018.

SC has already examined the federal law and found no conflicts with state law. It has approved the private school tuition funding.

Tags: campus, family, parent

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