Virginia529 launches new savings option that keeps pace with tuition growth
The new savings option, called the Tuition Track Portfolio, is part of the Invest529 program as an exclusive option for Virginia residents. The portfolio tracks average tuition growth at Virginia public universities (Average Tuition) and avoids market risk by protecting families’ principal investment. With the Tuition Track Portfolio, families purchase units that may be used to cover tuition and other qualified higher education expenses.
The value over time of units will keep pace with Average Tuition at Virginia’s public universities. Tuition Track Portfolio units are priced annually based on current Average Tuition, with each unit representing 1percent of annual Average Tuition and 100 units equaling one year of Average Tuition. When it is time for a student to use their funds to pay for their education the value of the units is equal to the then current Average Tuition and may be used at any eligible educational institution and for any postsecondary qualified expenses.