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Alabama


Prepaid Affordable College Tuition (PACT) Program


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
Alabama's Prepaid Affordable College Tuition (PACT) Program suspended its enrollment in 2009 and new applications are no longer being accepted. The program has offered a four-year package and one-year package covering tuition and fees at any Alabama public college or university, convertible to private and non-Alabama institutions based on a formula.

Program Details
Summary: Alabama's Prepaid Affordable College Tuition (PACT) Program suspended its enrollment in 2009 and new applications are no longer being accepted. The program has offered a four-year package and one-year package covering tuition and fees at any Alabama public college or university, convertible to private and non-Alabama institutions based on a formula.
Program type: Prepaid contract
Enrollment period: Normal enrollment period is September through December. Closed to new enrollments as of 2009.
State residency requirements: None
Contract prices: In the last enrollment period (2008), the price for a four year contract ranged from $23,938 for a newborn to $25,650 for a ninth grader. The price for a one year contract ranged from $6,408 for a newborn to $6,856 for a ninth grader.
Are program benefits backed by the full faith and credit of the state? No
Are program benefits collateralized or guaranteed in any other way? No
State tax deduction or credit for contributions: Contributions, including rollover contributions, to an Alabama 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by married taxpayers filing jointly who each make their own contributions, are deductible in computing Alabama taxable income.
Web site: Click here to visit
Telephone: 1-800-252-7228
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