The sooner you prepay for tuition, the more you can potentially save. As the chart to the right illustrates, if tuition rises at a rate of 5% per year, by enrolling today in Private College 529 Plan, you could save thousands of dollars on the cost of a private college education by the time your child is ready to enroll, even if that time isn't far away.
You purchase Plan tuition certificates that are guaranteed. A semester of undergraduate tuition for a participating college or university purchased today will be worth a semester of tuition at that school for up to 30 years — no matter how much tuition rises or what happens in the financial markets.
You do not have to commit to a school when you enroll in the Plan or at any point until you actually redeem your tuition certificates.1
You may start an account with as little as $25 or as much as the Plan's contribution limit of $256,500. Additional contributions of as little as $25 may be made with an automatic purchase plan or whenever you like.3
Track your progress
When you open a Private College 529 Plan account, you'll have the opportunity to track the amount of tuition your certificates would cover at up to five 'sample' participating colleges and universities which you can change at any time. It's a great way to help you track your progress and reach your savings goal.
Redeeming tuition certificates
Tuition certificates purchased through Private College 529 Plan that are held at least 36 months will be honored for tuition and required fees at any participating institution. Once your child is accepted and enrolls at a member college, you can redeem your tuition certificate(s).
Q: Do I have to choose a specific college when I purchase a certificate?
A: No. Tuition certificates may be used at any participating school whenever your child is accepted and enrolls. Certificates are guaranteed for up to 30 years after purchase and may be used to pay tuition and mandatory fees as long as certificates are held for at least 36 months.