College costs have increased constantly over the last three decades, leading many families to look for affordable ways to save for their childrens’ futures at a time when the tuition price tag can feel like a moving target.
Virginia529, the largest 529 plan in the country with almost 3 million accounts, has created a new savings option within its highly rated program Invest529 that can help families save for their children’s future and keep up with rising tuition costs.
This new savings option, called the Tuition Track Portfolio, is an exclusive option for Virginia residents designed to track the average tuition growth at Virginia Public 4-year Universities (Average Tuition) and protect families’ savings by avoiding market risk.
With the Tuition Track Portfolio, families can purchase units that can be used toward tuition and many other qualified higher education expenses. The value of the purchased units will keep pace with Average Tuition inflation at Virginia Public 4-Year Universities.
For every 100 units purchased, families will receive the value equal to one year of Average Tuition when their student attends college.
More than half of Virginia public colleges and universities have tuition costs under Average Tuition, meaning 100 units a year at those schools will cover all tuition and some additional qualified higher education expenses. Explore the Tuition Track Calculator.
Families can choose how many units (or fractions of units) to purchase year round, based on their budget and savings goal. The units will have the same value no matter where a student goes to school, whether it is a 2-year or 4-year public, or private college or university, in-state or outside of Virginia.
Visit the Tuition Track Portfolio page to learn more about this newest savings option. Families can use the Tuition Track Calculator to estimate how many units to buy based on their budget and savings goals, and open an Invest529 account. Already have a Virginia529 account? Account owners can transfer funds from any existing account to the new Tuition Track Portfolio.