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Prepaid529 is open for enrollment March 1 through April 30, 2019. Get more details.

Embrace peace of mind by prepaying tuition for your loved one

Introduction to Prepaid529

Tuition is typically the most expensive component of higher education. For 2018-2019, a year of tuition and mandatory fees at a four-year Virginia public university can cost as much as $24,003.

Tuition Graph
Source: State Council for Higher Education in Virginia (SCHEV) Tuition and Fees Reports for 2009-2010 through 2018-2019

What will tuition cost when your child, grandchild or loved one heads off for freshman year?

With Prepaid529, the uncertainty of tuition inflation is eliminated. Each Prepaid529 semester purchased covers a future semester of in-state tuition and mandatory fees at two- and four-year Virginia public colleges or universities.

1 semester of Prepaid529 =

1 future semester at a Virginia public four-year college or university


2.6017 future semesters at a Virginia public two-year college1

Flexible purchase and payment options
Prepaid529 offers flexible options to work for many budgets and saving goals.

Select the number of semesters that fit your budget.

Some choose to buy a single contract of eight or 10 semesters, which covers the four or five years typically required to complete an undergraduate degree.

Others purchase one or a few semesters to set a strong foundation and offset the total cost they may pay in the future.

Pay your way.

One-time payment in full

Pay off your contract in a single payment due on or before May 1, 2019.

Monthly payments

Spread out your payments up to the spring of the beneficiary’s high school graduation year.

Down payment

Lower your monthly payments by making an optional down payment when you open the account.

Use the Prepaid529 calculator to explore purchase and payment options.

Prepaid529 Calculator

Tax benefits of Prepaid529

Enjoy the same tax advantages as with other Virginia529 programs:

  • Deductions for annual contributions, up to $4,000 per account, from Virginia taxable income for the account owner
  • Tax-free earnings
  • Tax-free distributions for qualified higher education expenses
  • Favorable federal gift and estate tax treatment

Tax advantages

Eligibility requirements

To be eligible for a Prepaid529 account:

  • Either the account owner or the beneficiary (child) must be a Virginia resident at the time the account is opened.
  • The beneficiary must be born and in ninth grade or younger during the enrollment period.


Prepaid529 prices are determined by the child’s current age or grade. Use the calculator to explore purchase and payment options.

2019 Prepaid529 Pricing, Coverage & Conversion Rates
Child Age/Grade Price2 VA Public Four-Year University / College Coverage VA Public Two-Year / Community College Coverage 5 Maximum Semesters
Newborn - Age 4/5 $9,720 1 Semester 2.6017 Semesters 10
K - 4th Grade $9,345
5th - 9th Grade 3 $8,970
Focus on what you can afford
Claudia D | Virginia
Doing things right
Lauren and Dorothy | Hawaii and Virginia

Using Prepaid529 for qualified higher education expenses

At Virginia public institutions:

After your child applies to and is accepted at a Virginia public two- or four-year college or university, simply log into your secure profile and complete a form advising Virginia529 of the school your student is attending. Virginia529 pays the in-state tuition and mandatory fees directly to the school.

At out-of-state or Virginia private institutions:

You may use Prepaid529 benefits at Virginia private colleges or out-of-state colleges, however payouts for eligible educational institutions not in the Virginia public higher education system may not cover the full cost of tuition and mandatory fees.

Virginia public college or university

Full coverage of in-state undergraduate tuition4

Virginia private college or university

Payments + actual rate of return on payments

Out-of-state college or university

Payments + reasonable rate of return on payments

Additional information

Maximum balance

Virginia529 limits an individual beneficiary’s cumulative account balance for all Virginia529 accounts (regardless of program) to $500,000.

Mandatory fees

Mandatory fees do not include laboratory fees, course-specific or optional fees, room and board, transportation, computers or textbooks. Additional charges for a specific course of study, such as nursing or engineering, or for a course load above normal full-time are not covered by Prepaid529.

College admissions

Ownership of a Prepaid529 contract has no bearing on the admissions process at Virginia colleges or those elsewhere. A student must apply to and be accepted by the school he or she wishes to attend.

State obligation

To cover Prepaid529’s contractual obligations in the event of a Virginia529 funding shortfall, Virginia law provides that a sum sufficient appropriation must be included by the Governor in his annual proposed state budget bill. This provision can only be changed through the annual appropriations process, which would require action by the Virginia General Assembly.


Please refer to the Prepaid529 Program Description for a discussion of risk factors associated with Prepaid529.

1. Conversion ratio may change each enrollment period to reflect variations in tuition costs year to year. The 2019 conversion ratio is 1 : 2.6017.

2. Prices shown are for a one–time, lump sum payment for contracts purchased during the 2019 enrollment period.

3. Account must be opened by the end of the enrollment period during the beneficiary’s ninth grade year.

4. For purposes of Prepaid529 only, Virginia529 defines tuition as the undergraduate in-state semester or term charges for tuition and mandatory fees required and imposed as a condition of enrollment of all students by a two-year or four-year Virginia Public Institution. Please see the Prepaid529 Master Agreement for a complete definition.

5. Conversion ratio may change each enrollment period to reflect variations in tuition costs year to year. The 2019 conversion ratio is 1 : 2.6017.