Independent 529 Plan

Filed in archive on June 24, 2005

Here's another option in your quest to send Jr. to the very best college. The Independent 529 Plan

What is Independent 529 Plan?

Independent 529 Plan is the first private college-sponsored, national, prepaid 529 plan. Independent 529 Plan gives you a new tool to help make paying for your child's or grandchild's college education achievable by allowing you to lock in future tuition costs at less than today's price. This unique new way to pay for college offers the security of a guarantee against tuition inflation, freedom from market risk, and the flexibility of a national program---all free from Federal taxes.

The amount of tuition you prepay (by purchasing certificates) won't change, no matter what happens in the investment markets or how much college tuition rises. You don't choose a college when you purchase a certificate; your prepaid tuition will be valid at any participating college, provided the student is accepted and enrolls*. Independent 529 Plan offers the same federal tax benefits as any 529 prepaid tuition plan or state-sponsored 529 college savings plan.

* Participation in Independent 529 Plan does not guarantee admission to any college or university, nor does owning a certificate in any way affect admissions decisions.

I guess there's no chance of tuition going down?? In any event, you may want to explore this site for more details on this program.