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Nevada Prepaid Tuition Program

Prepaid Plan

Prepaid Plans let you pre-pay all or part of the costs of a college education. They may also be converted for use at private and out-of-state colleges. Because of the unique structure of these plans, they are not considered in our ratings methodology.

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

OVERVIEW

Program type

Prepaid contract

Enrollment period

November 1, 2024 to April 15, 2025.

Inception

1998

State agency

Board of Trustees of the College Savings Plans of Nevada and the State Treasurer's Office

Tax deduction

For single filers: None

For joint filers: None

MORE INFORMATION

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:

Contractual Features

Contract prices:

In the 2024-25 enrollment period, prices range from as little as $5,252 for a two-year community college contract for a newborn to as much as $29,547 for a four-year university contract for a ninth grader. An extended payment plan is available. For 2024-25 enrollment, the first payment is due May 15, 2025.

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 or 10-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?

Are program benefits collateralized or guaranteed in any other way?

Fees & Expenses

Enrollment or application fee:

$100

Taxes and other Benefits

Tax deduction for single filers:

None

Tax deduction for joint filers:

None

Note:

Nevada doesn't offer tax deductions

Program match on contributions:

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?

Is there a rewards program or outside scholarship program that works with this 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:

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:

http://www.nevadatreasurer.gov/Prepaid_Tuition/Prepaid_Home/

Telephone:

1-888-477-2667

Social Media

nvprepaid

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