Tuition and mandatory fees are typically the most expensive part of higher education. In the face of these rising costs, more families are looking for affordable, flexible and easy-to-use savings options.
For a limited time—- March 1 through April 30, 2019—- Virginia529 will open enrollment for its Prepaid529 program, offering families the opportunity to purchase up to ten semesters of coverage.
Each Prepaid529 semester purchased covers a future semester of undergraduate in-state tuition and mandatory fees at two- and four-year Virginia public colleges or universities. Prepaid529 can also be used at eligible private and out-of-state institutions, though the benefit will vary.
Prices and payment options vary by the age of the child, length of payment term, and number of semesters purchased.
Virginia529 anticipates that this may be the final enrollment period for the Prepaid529 program in its current form. Legislation has unanimously passed in the Virginia General Assembly House and Senate and is awaiting the Governor’s signature that would prospectively change the benefit structure for future accounts.
These changes are still being finalized – sign up for updates as they occur.
There will be no changes to existing Prepaid529 contracts, and current contracts will retain the Prepaid529 benefit structure in effect at the time of purchase. Individuals who later decide they prefer the new benefit structure may transfer a Prepaid529 contract to the as yet unnamed new program.