United States
"Prepaid Tuition Plan"

What is a Prepaid Tuition Plan ?

A prepaid tuition program is a type of 529 college savings plan that allows donors to provide all or part of a student's tuition for college or university.

How Does a Prepaid Tuition Plan Work ?

Prepaid tuition plans enable parents, grandparents, and other individuals to prepay tuition at qualifying public and private schools or universities at today's rates.

Who is Eligible for Prepaid Tuition Plan ?

You or your child must be a resident of the state that offers the plan. Beneficiaries of many prepaid tuition schemes are also restricted by age or grade.

What Does Prepaid Tuition Plan Cover ?

Expenses under prepaid tuition plan are limited to tuition. The costs of equipment, supplies, room and board for your child's schooling cannot be covered by plan.

Tax Benefits of Prepaid Tuition Plans

Prepaid tuition plans allow contributions to be made using after-tax dollars, means you are eligible to take state income tax deduction for the money contribute to plan.

Benefits of Prepaid Tuition Plan

Prepaid Tuition Plan buyer may transfer cash to the student's younger sibling if the student is awarded scholarships or grants that pay their tuition.


What States Offer Prepaid Tuition Plan ?

Alaska, Florida, Illinois, Maryland, Massachusetts, Michigan, Mississippi, Nevada, Pennsylvania, Texas, Virginia, and Washington are offer prepaid tuition plans.

How to Enroll in Prepaid Tuition Plan ?


You can enroll online and selecting the amount of tuition you wish to pay. States may have different enrollment periods at different times.