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Nevada Prepaid Tuition Program

Nevada Prepaid Tuition Program prepaid tuition program offers a variety of tuition packages to Nevada families and University of Nevada alumni.


  • Program typePrepaid contract
  • Enrollment periodNovember 1, 2017 through March 31, 2018. Newborns may be enrolled through June 30, 2018.
  • Inception1998
  • State agency
    Board of Trustees of the College Savings Plans of Nevada and the State Treasurer's Office
  • Tax deduction
    Tax deduction for single filers None
    Tax deduction for joint filers None

Ratings & Rankings

Our overall rating for NV residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

Our overall rating for non-residents

This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.

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.

Financial Benefits

3.50

Features

5.00

Safety

4.00

Reliability

4.00

Eligibility

State residency requirements:

The account owner or beneficiary must be a Nevada resident or account owner must be an alumnus of a Nevada college or university.

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:

The beneficiary must be in the 9th grade or below and 18 years old or younger at the time the contract is purchased. The beneficiary has up to ten years from high school graduation or until age 30 to begin using benefits, with extensions granted for military service.

Contributions

Minimum contributions:

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Contractual Features

Contract prices:

In the 2017-18 enrollment period, prices range from as little as $4,664 for a two-year community college contract for a newborn to as much as $25,233 for a four-year university contract for a ninth grader. An extended payment plan is available. For 2017-18 enrollment, the first payment is due May 15, 2018.

Available tuition packages:

Four-year university plan, two-year university plan, one-year university plan, two-year community college plan, or a combination plan.

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

Weighted average tuition at in-state Nevada public institutions, limited to actual tuition incurred, less $25 one-time, out-of-state school processing fee.

Contract payment options:

Lump sum, 5-year monthly payment plan, or extended monthly payment plan that ends when child reaches college age.

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

Fees & Expenses

Enrollment or application fee:

$100

Taxes and other Benefits

  • Tax deduction for single filersNone
  • Tax deduction for joint filersNone

Note

Nevada doesn't offer tax deductions

Program match on contributions:

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State tax deduction or credit for contributions:

Not applicable. Nevada does not have a personal income tax.

State tax treatment of qualified distributions:

Not applicable. Nevada does not have a personal income tax.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes, the account is excluded for purposes of determining eligibility for a grant, scholarship, or work opportunity based on need and offered or administered by a state agency.

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Statutory protection of an account from creditors:

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Want to Boost your Savings?

You could be saving more with gifts from family and friends. CollegeBacker makes it easy to start a 529 plan, and then invite others to contribute for birthday parties, holidays, or even on a monthly basis.

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Distributions & Terminations

To whom are distributions made payable:

Account owner, eligible educational institution, or other third party, as directed by account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer contract ownership ($20 fee).

Contact

Website:

https://www.nvprepaid.gov/

Telephone:

1-888-477-2667

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