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529 PLANS

Private College 529 Plan

Other

Formerly known as Independent 529 Plan, the Private College 529 Plan
is 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.

5-Cap Rating

Resident:
Non-Resident:

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Financial benefits	Safety	Features	Reliability
4.0	4.0	4.0	4.0

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Access enrollment materials and open an account with Private College 529 Plan in just a few easy steps.

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General

Did you know?

Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!

Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.

Research other state plans
or
Compare between state plans

Program type:

Institutional prepaid contract

Telephone:

1-888-718-7878

Web site:

Click here to visit

Twitter

Click here to visit

How to enroll:

Enroll directly with the program.

Initial year of operation:

2003

Enrollment period:

Open year-round

State agency(ies):

This is not a state-sponsored program. The sponsor is Tuition Plan Consortium LLC, a non-profit membership organization comprised of participating colleges and universities.

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

Individuals at least 18 years old, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

A minimum of 36 months must lapse between the initial purchase date of a Tuition Certificate and its first redemption. A Tuition Certificate must be used by the 30th anniversary of its purchase or it will be cancelled for the refund amount. A refund may be requested only after 12 months have expired since the initial purchase date.

Contributions

Maximum contributions:

Premium subscription required for this data.

Minimum contributions:

Premium subscription required for this data.

Contractual Features

Contract prices:

Ranges from a minimum of $25 to as much as the cost of five years of undergraduate tuition and mandatory fees at the highest-cost participating institution ($231,350 for the 2012-13 year). An automatic contribution plan is available.

Available tuition packages:

A Tuition Certificate is issued for each program year based on all payments made for the beneficiary during that program year. Total Tuition Certificates may not exceed five years of undergraduate tuition and mandatory fees at a participating institution. Tuition Certificates may be redeemed for a pre-determined percentage of tuition at any of the 270+ participating institutions. The particular college to be attended does not have to be identified at the time of certificate purchase. Private College 529 Plan continually recruits new colleges into the program, and any college coming in must agree to accept Tuition Certificates from existing participants.

Benefits for beneficiary attending private or out-of-state institution:

Refunds for any reason (including attendance at a non-participating institution) provides a return of contributions adjusted by program fund investment performance not to exceed plus-or-minus 2% annualized.

Contract payment options:

Lump sum, automatic bank transfers, or payroll deduction.

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 OFI Private Investments, Inc.