Private College 529 is a prepaid tuition plan that allows families to lock in current tuition rates at hundreds of colleges and universities nationwide, guaranteed by the schools. There are no state residency requirements to save, and tuition may be redeemed at any school in the plan. (See "eligibility" for details.) The plan is sponsored by Tuition Plan Consortium, LLC, which has appointed Alta Trust Company as program trustee, Intuition College Savings Solutions (Catalis) as program administrator, and Charles Schwab as custodian.
- Program typeInstitutional prepaid contract
- Enrollment periodOpen year-round
- Inception2003
- State agencyThis is not a state-sponsored program. The sponsor is Tuition Plan Consortium LLC (TPC), a non-profit membership organization composed of participating colleges and universities. TPC is responsible for the plan design, qualification under Section 529, oversight of the program trust, and administration of the plan. TPC is authorized to appoint the trustee of the qualified trust that is required to be established under the plan. TPC has appointed Alta Trust Company as program trustee to provide trust services. TPC is authorized under the plan documents to engage service providers to perform certain functions on its behalf and has engaged Intuition College Savings Solutions (Catalis), as program administrator, and Charles Schwab, as custodian, to provide certain services.
- Tax deduction
- Program ManagerIntuition College Savings Solutions, LLC (Catalis)
Investment Options
Investors in Private College 529 Plan can select from the following investment options. Click on a portfolio name for more information.
Sometimes referred to as the enrollment-based option, this is an investment approach where your asset allocation is programmed to change over time. Accounts for young beneficiaries are invested aggressively and accounts for beneficiaries with college right around the corner are invested much more conservatively. In some 529 plans, the age-based option operates by automatically transferring your investment from one static portfolio to another at certain points in time. Others utilize lifecycle funds or employ lifecycle-type tactics within the portfolio containing your investment so that it is not necessary to transfer your investment between portfolios.
