Private College 529 Plan NEW! PDF ReportPRO


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 nearly 300 participating private colleges.

5-Cap Rating


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
4.00 4.00 4.00 4.00

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Program type:

Institutional prepaid contract

How to enroll:

Enroll directly with the program.
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Initial year of operation:


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.

Enrollment period:

Open year-round


State residency requirements:


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.


Maximum contributions:

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Minimum contributions:

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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 ($274,125 for the 2017-18 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 nearly 300 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.

Are program benefits collateralized or guaranteed in any other way?


Fees & Expenses

Enrollment or application fee:


Taxes and other Benefits

Program match on contributions:

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State tax deduction or credit for contributions:

Not applicable.

State tax treatment of qualified distributions:

Not applicable. Not a state-sponsored program.

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

Not applicable. Not a state-sponsored program

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


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


Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution or account owner; qualified distributions to account owner require substantiating documentation.

Account Changes

Policy regarding participant/owner changes:

Ownership may not be transferred except in the case of an involuntary transfer such as death.



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