College & Career

Alabama

Prepaid Affordable College Tuition (PACT) Program
5 Cap Ratings
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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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