Effective July 1, 2008 the legislature voted to not accept new participants but honor the existing contracts. We do not anticipate the program being opened up to new participants again. The actual legislation is stated below.

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.

LAST UPDATED MARCH 2010