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Emory University has joined over 250 colleges across the country in a
new prepaid tuition plan designed to make private higher education
available to more families.
The Independent 529 Plan, administered by
TIAA-CREF, is an income-tax-free way to lock in affordable
tuition rates, independent of tuition increases or market volatility.Through this 529 Plan, families can save for tomorrow’s college
education at less that today’s tuition rates, protecting their savings
from tuition increases, investment risk and federal taxes. Families
that enroll in the plan aren’t locked into sending their child to any
specific institution. The credits can be used at any of the 250+
participating institutions to which the student is admitted. If a
child receives a scholarship or decides not to attend a participating
institution, the certificates can be transferred to other family
members or even refunded.
Accounts can be opened for as little at $25 or as much as five years
of tuition at the most expensive participating college; there are no
fees and the accounts are free from federal and state taxes. The
certificates can be redeemed any time after three years from the time
of purchase. In addition to Emory, some of the participating
institutions include Princeton, Wake Forest University, Columbia,
University of Chicago, Stanford, MIT, Notre Dame, Vassar and Johns
Hopkins.
The Independent 529 Plan is the only national prepaid tuition
plan. I-529 payments are applied to tuition only. Money invested in
the fund is deposited into a trust and invested by TIAA-CREF. For
further detail, link directly to the I-529 website here:
www.independent529plan.org
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