How Private College 529 Plan Works for Schools
Partnerships with Families Who Plan and Save
Colleges and universities help control the cost of college tuition
Established and maintained by the not-for-profit Tuition Plan Consortium (TPC), Private College 529 Plan (the Plan) is the only nationally sponsored 529 plan that's owned by participating private colleges and universities. Over 270 member institutions are committed to making higher education more affordable and more attainable for families by participating in the Plan. Joining TPC and Private College 529 Plan can bring an institution many benefits.
Schools can be part of the solution by showing the public, the media and policy makers they are doing something tangible to help families manage the cost of higher education.
Participation in the Plan demonstrates a willingness to partner with families to help make college affordable; future tuition costs can be reduced for families without using institutional resources.
Students are given another great reason to choose a participating institution and there is an incentive for students to stay once enrolled.
Families get peace of mind because member schools guarantee that the tuition benefit will be there when the student needs it. Institutions will participate in the Plan long-term while families have a more limited time frame.
Participating in Private College 529 Plan is an innovative response to the challenges many families face today: stagnant – or even uncertain - household income, rising tuition relative to income, reduced access to credit and concern about increasing debt. The Plan offers colleges and universities the opportunity to accomplish something collectively that they would be unable to do individually: change the way American families plan and pay for private college education. It encourages families who prefer a private college experience and who may have some ability to plan and save, to pre-pay and save for a great education – not just a degree.
By participating in Private College 529 Plan, Spelman College is helping families who are able to save to actually save, with little risk and high rewards for the college.
Robert D. Flanigan, Jr.
Vice President for Business and Financial Affairs & Treasurer