The "South Carolina Fostering Futures Act" aims to support current and former foster youth by requiring public institutions of higher education in South Carolina to waive tuition and fees for eligible individuals pursuing undergraduate certificates, diplomas, or bachelor's degrees. Eligibility is defined for individuals not older than twenty-five who meet specific criteria, such as having been in the legal custody of the Department of Social Services (DSS) on their eighteenth birthday, currently being in extended foster care, or having been adopted from foster care at age thirteen or later. The tuition waiver can continue until the student completes their first bachelor's degree or turns twenty-six, and it applies to various academic terms and programs.

Additionally, the bill mandates that public institutions provide priority access to housing and federal work-study positions for eligible students, designate a staff member as a liaison to assist them, and report annually to DSS on the enrollment and academic progress of these students. Institutions are also required to treat these students as financially independent for financial aid purposes, meaning they do not need to provide parental information. The act will take effect upon the Governor's approval.