| • |
Summary: The only private-college-run 529 plan in the country, this prepayment program allows families to lock in tuition at any of its 270-plus participating private colleges, at prices representing a discount to current tuition rates. |
| • |
Program type: Institutional prepaid contract |
| • |
Enrollment period: Open year-round |
| • |
State residency requirements: None |
| • |
Contract prices: Ranges from a minimum of $500 to as much as the cost of five years of undergraduate tuition and mandatory fees at the highest-cost participating institution. An installment plan is available. |
| • |
Are program benefits backed by the full faith and credit of the state? N/A, not a state-sponsored program; however, each participating institution makes a binding commitment to accept Tuition Certificates in payment of tuition and mandatory fees. Payments received by the program are pooled in a trust fund with investments managed by TIAA-CREF. Independent 529 Plan continually recruits new colleges into the program, and any college coming in must agree to accept Tuition Certificates from existing participants. |
| • |
Are program benefits collateralized or guaranteed in any other way? No |
| • |
State tax deduction or credit for contributions: Not applicable |
| • |
Telephone: 1-888-718-7878 |
| • |
Web site: Click here to visit |
