SOURCE: Virginia529 College Savings Plan

Virginia529 College Savings Plan

March 18, 2016 03:30 ET

3 Ways to Prepay Tuition With Virginia529

RICHMOND, VA --(Marketwired - March 18, 2016) - The cost of a four-year degree at public universities is expected to top $150,000 in ten years. To make the college dream possible and avoid burdening graduates with debt, families turn to Virginia's tuition prepayment program, Virginia529 prePAID (prePAID).

For each semester purchased, prePAID will cover a future semester of normal full-time undergraduate in-state tuition and mandatory fees assessed to all students at a Virginia public university. Students may use prePAID at other eligible public and private colleges across the country, but payouts will differ.

Virginia529 offers three tips for making prePAID work for any budget:

1. Start with one semester
prePAID contracts are available in semester increments, with prices starting as low as $27 per month. Jump-start a loved one's educational future by purchasing a single semester now, then add more later to complete your plan.

2. Consider Tier II semesters
prePAID's Tier II semesters have a lower contract price than Tier I semesters because they are based on the cost of two-year or community college programs. However they may be used at either four-year or two-year schools -- the choice is always yours.

3. Rollover 529 savings program funds
Families currently investing in a 529 savings program can lock in today's prePAID contract rates by rolling over part or all of the 529 savings account as a lump sum down payment on a prePAID contract.

The deadline to enroll in Virginia529 prePAID is March 31, 2016. Visit Virginia529.com to enroll, review the prePAID Program Description and explore your options with the prePAID calculator.

About Virginia529 College Savings Plan:

Virginia529 makes higher education more accessible and affordable for families and individuals. With $54 billion in assets under management and 2.4 million accounts as of December 31, 2015, Virginia529 is the largest 529 plan available. Four flexible, affordable, tax-advantaged programs -- Virginia529 prePAID ℠ (prePAID℠), Virginia529 inVEST℠ (inVEST℠), CollegeAmerica® and CollegeWealth® -- and early commitment scholarship program SOAR Virginia® assist students of any age in reaching their higher education goals. For more information on Virginia529's college savings options, visit Virginia529.com or call 1-888-567-0540 to obtain program materials. These include information on Virginia529 programs, investment objectives, risks, charges, expenses and other important information; read and consider them carefully before investing. All investments are subject to risk, including the possible loss of the money you invest. Virginia529 encourages prospective participants to seek the advice of a professional concerning any financial, tax or legal implications related to opening an account. For residents of states other than Virginia: your state or the beneficiary's state of residence (if different) may sponsor a 529 plan that offers state income tax and other benefits not available to you through Virginia529 College Savings Plan. ©2016 Virginia College Savings Plan. All Rights Reserved.

Contact Information

  • For more information, contact
    Kelley Hope
    Communications Manager
    804-225-2452
    Email contact