As the cost of higher learning quickly becomes one of the top financial concerns for American families, there is a way to invest early and save toward a child’s education at a private college or university such as Notre Dame.
Notre Dame encourages parents, grandparents, and others to take part in the Tuition Plan Consortium, a group of several hundred private colleges and universities offering pre-paid tuition plans. If any amount is purchased on or before June 30, the value of the investment will be based upon the current academic year’s tuition and fees.
“We are proud of Notre Dame’s leadership in the Private College 529 Plan, which both relieves the financial burden and expands the range of choices for all who wish to pursue a higher education,” said President Rev. John I. Jenkins, C.S.C.
This plan is guaranteed by each participating institution and allows the purchaser to lock in today’s costs for future use, regardless of inflation. There is no income cap limiting tax exemptions and the purchaser keeps ownership of the account after the beneficiary turns 18 years old. There are no start-up, maintenance, or annual fees in the plan, and the limit per beneficiary is more than $200,000.
The TPC’s 529 program grew to nearly $200 million in assets by the end of last year, with almost 8,000 individual accounts. Notre Dame, a charter member, continues to be among the top three institutions for prospective purchasers and ranks first among more than 270 participating institutions for plan redemptions.
OFIPI, a subsidiary of Oppenheimer Funds, Inc., recently began to administer the marketing, investment, accounting, and research of the fund.
For more information on the Private College 529 Plan, please visit privatecollege529.com or call 1-888-874-0740. The sooner the investment is made, the larger the benefit will become when the day for college arrives.