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Reduce your tax burden while boosting education funding
Accelerated gifting through the Scholars Choice Education Savings Plan® allows investors to make a single gift of up to $150,000 for couples filing jointly ($75,000 for individuals) per beneficiary1 – five times the annual gift tax exclusion – without any federal gift tax consequences.
Taking advantage of this unique tax provision can provide multiple benefits:
- Jump-start or quickly increase education savings for children or grandchildren
- Boost the potential investment earnings of your savings with the power of tax-free compounding
- Significantly reduce the size of one’s taxable estate
Learn more about Scholars Choice today!
1 Contributions to an account for a beneficiary between $15,000 and $75,000 ($30,000 and $150,000 for a married couple filing jointly) made in a single calendar year can be prorated over a five-year period without incurring federal gift taxes or reducing an investor’s unified estate and lifetime gift tax credit. However, if the account owner perishes before the fifth year, a prorated portion of the contribution will be included in his or her taxable estate.
There are various risks associated with an investment in the Scholars Choice Education Savings Plan; principal loss is possible. The Scholars Choice Education Savings Plan’s Investment Portfolios are subject to the risks of the underlying fund(s) in which they invest and other risks, as described in the Plan Description. To obtain a more complete description of the investment policies and risks of the underlying funds, please refer to the current prospectuses for the underlying funds.
The Target Allocation Portfolios are currently comprised of four Investment Portfolios. The Target Allocation Portfolios are designed for account owners who prefer a diversified Investment Portfolio with a fixed risk level rather than a risk level that changes as the Designated Beneficiary ages.
The Enrollment Year Investment Portfolios are intended for Account Owners who prefer an Investment Portfolio with a risk level that becomes increasingly conservative over time as the Designated Beneficiary approaches expected enrollment in an Eligible Educational Institution and/or expected year in which amounts will be withdrawn to pay for Qualified Higher Education Expenses. There are ten target Enrollment Year Investment Portfolios that invest in multiple underlying funds, each of which has a different investment strategy.
Before investing, carefully consider the investment objectives, risks, charges and expenses of the Scholars Choice Education Savings Plan, including whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available for investment in such state’s qualified tuition program. For this and other information that should be read carefully, please read the Plan Description or request one at 888-5-SCHOLAR (888-572-4652).
Participation in the Scholars Choice Education Savings Plan does not guarantee that the account’s assets will be adequate to cover future tuition or other higher education expenses, or that a designated beneficiary will be admitted to or permitted to continue to attend an institution of higher education. Contributions to an Account and the investment earnings if any, are not guaranteed or insured.