MACON--Mercer University is now participating in the Independent 529 Plan, a prepaid tuition plan that enables students to lock in future tuition costs at less than today's prices. Through the Plan, certificates are purchased that can be used to pay future tuition costs. When the student is later accepted at a member college, the certificate can be used to pay the percentage of tuition that was pre-purchased. Independent 529 Plan is the first 529 plan sponsored by private ("independent") colleges, and Program certificates can be redeemed for tuition at a broad array of independent colleges nationwide.
The Mercer University National Alumni Board recently unanimously voted to support the plan and to encourage Mercer alumni and friends who are parents or grandparents to participate for future Mercer students in their families.
While many states have existing programs that help families with tuition costs at in-state university systems, there has not been a similar program for saving for a private college education – until now.
Independent 529 Plan, a plan qualified under Section 529 of the Internal Revenue Code, is the first tax-advantaged program designed specifically to help finance an independent college education.
The goal of Independent 529 Plan is to increase affordability and access to private higher education by offering a tuition prepayment program with the security of a guarantee against tuition inflation and the scope and flexibility of a national program.
Independent 529 Plan is sponsored by Tuition Plan Consortium (TPC), a LLC cooperative effort of more than 200 independent colleges and universities.
Mercer alumni and parents of future Mercer students can enroll their children in the Independent 529 Plan through the following Web site: www.independent529plan.org.
To learn more about Independent 529 Plan click here.