(NAPSA)—Whether your children or grandchildren are infants or in high school, it’s not too late or too soon to put moneyaside to help them achieve a great private college education.‘The holidaygift-giving season is a great time to start. It is also a good idea to makecollege education savings one of your 2017 financial resolutions. One way to energize your savings is with a prepaid tuition plan thatlets your family save on the cost of college by locking in tomorrow’s tuition at today’s prices. By using Private College A great gift for children you love— at holiday time, birthdays or anytime—is to help them have a chance to afford the college of their choice. matter how much rates increase over the years or how investment markets perform. Use the guaranteed tuition at an ever-growinglist of close to 300 private colleges and universities, including manyofthe nation’s top-ranked schools. ernment. Since the schools bearall the financial risk and payall the fees, you get the most for your money. Private College 529 Plan accounts can be redeemedonlyfor undergraduate Private College 529 Plan is not an ings plan to help cover the cost of room 529 Plan, your tuition is guaranteed no Save on College Costs investment account; it is different than a traditional 529 plan as families are pre-purchasing tuition. The prepaid tuition can be used at any participating school from Princeton to Stanford and everything in between. Participating schools include large research universities, liberal arts colleges, faith-based institutions and more. Families can potentially save thousands of dollars by prepaying, which can expand a student’s range of potential schools to institutions that might once have seemed beyond a family’s means. For example, assume a year of tuition at a particular university is now $35,000. If tuition rises 4 percenta yearfor 10 years, tuition would be $57,000—offering a savings of over $20,000. These savings can give the child more options. You do not committo any particular school until the student enrolls. Participation in the Plan does not guarantee admission to any college or university; nor doesit affect the admissions process. The Plan is sponsored and guaranteed by the nearly 300 participating colleges and universities—not the gov- tuition and mandatoryfees. ‘Therefore, it is a smart idea to invest in a 529 savand board, computers, books and oth- er qualified education-related costs. If your child doesn't go to one ofthe Plan's schools, you can request a refund or use the fundsfora relative’s education. Tax Advantages Congress authorized 529 plans, in- cluding Private College 529 Plan, to help families save for college. While you don'tget a federal tax deduction for contributing, the increase in value of your accountis tax-free if you spend the money on qualified college expenses, such as tuition. More than 30 states allow tax deductions or credits on state returns. ‘There are estate-planning ben- efits, too. Contributions are considered completed gifts and qualify for annual gift tax exemptions. You can even frontload your account with five times the annual gift exclusion and remove that amount from yourestate. There are no income limits for account owners; and the Plan’s contribution caps are very generous, currently $265,400. To learn more or open an account, visit www.privatecollege529.com/prepay or call toll-free (888) 718-7878.
