Albertson College of Idaho Helps Parents Save for College with Independent 529 Plan
2005. 06. 29.
CALDWELL, Idaho- Albertson College of Idaho is giving families another tool to fund their children's future education by joining Tuition Plan Consortium's Independent 529 Plan, allowing parents to lock in tuition rates at less than present levels for their children's future use.
Independent 529 Plan was launched in 2003 in a cooperative effort by a national group of private colleges and universities to help families manage the rising cost of higher education. Under the program, individuals can purchase tuition certificates for future redemption at any of the 250 participating private colleges and universities, now including Albertson College of Idaho.
President Robert Hoover said that the college is committed to making itself more accessible to all qualified students, and becoming a member of Independent 529 Plan is a step in that direction.
'We are committed to making the education Albertson College of Idaho offers affordable,' Hoover said. 'And we have made this commitment because we believe in the value of private education.'
'Albertson College of Idaho joins many of the nation's leading private colleges participating in Independent 529 Plan,' said Douglas M. Brown, President and CEO of Tuition Plan Consortium. 'This plan is an innovative way for parents to provide for their children's future education at less than today's cost.'
'In return for the parents' prepaying college costs, member colleges accept the investment risk and protect parents from future tuition increases,' said Brown. 'Tuition purchased today is guaranteed to satisfy costs at the time the child enrolls,' he said. 'So, a parent who purchases a half-year of tuition today, will receive a half year tuition when child later redeems the tuition certificate at a member college. This is true regardless of how much tuition rises or what happens in the investment markets.'
About Independent 529 Plan
Independent 529 Plan is run by the nonprofit Tuition Plan Consortium and administered by TIAA-CREF Tuition Financing, Inc. Funds saved can be used at any of the 250 participating colleges and universities nationwide. Benefits are free of federal income tax, and the plan charges no enrollment or maintenance fees.
For more information about Independent 529 Plan, call (toll-free) 888-718-7878, or visit www.independent529plan.org/