South Carolina Tuition Prepayment Program
Welcome
Due to legislation passed July 1, 2008, SCTPP does not anticipate enrollment being opened again. Therefore, we will not be accepting new applications. Please read detailed information below.
The General Assembly passed the legislation below which was effective July 1, 2008.
S.75 (Rat #0296, Act #0246 of 2008)
Section 59-4-110
(A) Notwithstanding another provision of law, the South Carolina Tuition Prepayment Program may not accept new participants until the General Assembly authorizes the program to accept new participants by joint resolution.
(B) This section does not affect the existing participants in the program, and the South Carolina Tuition Prepayment Program remains in full operation for this purpose.
Section 59-4-120
For the purpose of the Tuition Prepayment Program, the annual increase in tuition for an institution cannot exceed seven percent per year from Fiscal Year 2006-2007. To the extent that actual tuition for an institution exceeds an annual growth of seven percent per year, the institution shall grant a waiver of the difference to the designated beneficiary and must not pass along the difference to any student.
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The South Carolina Tuition Prepayment Program (SCTPP) was created by the 1997 South Carolina General Assembly and is operated under the South Carolina Office of State Treasurer. It allowed for families to pay in advance for the tuition expenses of a child’s college education, at any of South Carolina’s public colleges and universities, with potentially significant savings over the actual tuition costs at the time the child enrolls in college. The SCTPP locked in today’s tuition rates and provided for payment of tuition and mandatory fees at any of South Carolina’s public colleges and universities, even if your child will not enroll in college for several years. Once enrolled in the Program, your SCTPP contract payments toward your child’s tuition would not increase regardless of how much college tuition may increase.
Please use the links on the left to find out more about our program or contact us with your questions or comments.
The information provided in the frequently asked questions section is intended to be general guidance related to this program. The answers do not nor are they intended to create a contract or any contractual rights nor do they replace or modify the statutes, rules, or regulations related to this program. The SCTPP is created by statutory law and governed by rules and regulations, and the terms and conditions and benefits of the program are prescribed by law. Since these laws and regulations are frequently changed, you may obtain the most current information by contacting SCTPP. No representation made in the website or by any program official or employee, modifies or expands the benefits provided by law.
Please consult your attorney or tax advisor concerning any legal questions or tax advice related to your situation and the program. The information provided on this website is not meant to be tax or investment advice nor do any program officials or employees provide legal, tax or investment advice.
LAST UPDATED March 2010.