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INDEPENDENT 529 PLAN ENABLES YOU TO PURCHASE FUTURE TUITION
AT TODAY'S LOWER PRICES
Recognizing both the importance of higher education and the
difficulty parents often face in paying tuition costs, private
colleges and universities from across the country have joined
together to offer Independent 529 Plan. It's a new way to pay
for a child's future education costs.
How does it work?
The plan enables you to prepay tuition at any participating
private college. Because the colleges invest the funds you
pay, they are able to offer a discount on today's prices.
When the student later enrolls, you can redeem the percentage
of tuition you've prepaid. You are guaranteed the percentage
purchased - no matter how much tuition costs rise in the future.
THIS PLAN WAS DESIGNED BY PARTICIPATING COLLEGES
Flexible payment options
- Pay a year or more of college tuition - at current prices less
a discount - at any participating private college.
- Pay any percentage of future tuition you want, also at current
prices less a discount.
- Low minimum contribution to start.
YOU'LL LIKE THE PLAN'S FEATURES
Lock In Today's Prices
- If you purchase a year of tuition today for your child or
grandchild, you'll get a year of tuition when that child is ready
for college - regardless of future tuition prices.
College Guarantee Your Prepayments
- The amount of tuition your contribution buys depends on the
college the student decides to attend.***
Refunds Available
- If your child doesn't attend a participating private college,
you can get a refund (adjusted for market performance of the
program).*
ALL THE TAX ADVANTAGES OF A 529 PLAN
There's never a federal tax** on the increased value of your
contributions, if the money is used for qualified higher education
expenses. Plus, you can transfer benefits to other eligible
family members.
Independent 529 Plan is sponsored by Tuition Plan Consortium,
LLC, a nonprofit organization dedicated to making education at
independent colleges and universities more affordable and accessible
for American families. Its investments are managed by
TIAA-CREF Trust Company, FSB, an affiliate of TIAA-CREF, a leading
financial services organization serving education and research
institutions.
*Refunds will be adjusted based on the net performance of the
Program Trust, subject to a maximum return of 2% per annum and a
maximum loss of 2% per annum.
**The law allowing for federal income tax-free qualified withdrawals
is set to expire on December 31, 2010. Congress may or may not
extend this law beyond this date. Future changes in the law
may create adverse tax consequences, or lead to termination of the
plan.
***Participation in Independent 529 Plan does not guarantee
admission to any college or university, nor does owning a
certificate in any way affect the admissions process. Owning a
certificate may have an adverse impact on financial aid
determinations. TIAA-CREF and its affiliates do not provide
tax advice. Please consult your tax advisor |
