Nevada State Treasurer’s Office announces Open Enrollment for Prepaid College Tuition Program
Submitted by Jeff Munson on Thu, 01/07/2021 - 11:32am
Nevada State Treasurer Zach Conine’s Office announced open enrollment for the Nevada Prepaid Tuition Program, which will end Friday, April 30. The Nevada Prepaid Tuition Program helps Nevada’s families affordably prepare their children for higher education by offering future in-state college tuition at today’s prices. The Program offers various payment plans to help meet the diverse needs of families across the silver state.
Established in 1997, the Nevada Prepaid Tuition Program has helped over 22,230 Nevadans plan and save for higher education and is one of only 12 prepaid tuition programs in the country. The program is a qualified 529 plan which means Nevadans get the tax advantages of a 529 savings plan.
“Recent studies have shown that nearly 60% of all jobs in the U.S. economy require a higher education. This data underscores the importance to Nevada families that planning for higher education is essential to support future generations and the workforce to come,” stated Nevada State Treasurer Zach Conine.
Benefits of the Nevada Prepaid Tuition Program include:
— Locking in future college tuition at today’s tuition prices
— Paying in-state rate of credit hours at both two-and four-year Nevada public colleges or universities
— Benefits are transferable nationwide to eligible out-of-state or private universities
— Contract rates start as low as $39 per month
— Can be used in conjunction with the Millennium Scholarship and other 529 savings programs
— Numerous plans and payment options are available to fit all budgets and timelines
— Plan options are available for newborns through ninth grade students
Five different plans are available, including three university plans, a community college plan, and a combination community college/university plan. Payment options for plans include a one-time lump sum payment, five-year monthly payment plan (60 months), ten-year monthly payment plan (120 months), and an extended monthly payment plan (monthly until high school graduation).
Plan prices and options vary depending on the child’s needs and the family’s financial situation, as well as the age of the child upon enrollment, the type of college and number of credit hours the child plans on taking and the payment plans chosen. Families may invest in the Program as long as either the purchaser or the student is a Nevada resident, or the purchaser graduated from a Nevada public college or university regardless of where they or the student currently lives.
Nevada Prepaid Tuition plans are available for purchase during the Program’s annual open enrollment period, which runs from Nov. 1, 2020 to April 30, 2021. To enroll or learn more about the Nevada Prepaid Tuition Program, log on to NVigate.gov or call the Program directly at 702-486-2025.
About Nevada State Treasurer’s Office
The Office of the State Treasurer was created in 1864 by the Constitution of the State of Nevada. It is responsible for a number of critical State functions including: cash, banking and transaction management; investment and debt portfolio management; collecting and returning unclaimed property; and, administering various college savings and scholarship programs.
The State Treasurer is elected by the people to a four-year term. Zach Conine is the current State Treasurer. For questions or more information email collegesavings@nevadatreasurer.gov or call 702-486-3889.
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