All 14 ACM colleges are now members of the Private College 529 Plan, a prepaid tuition plan owned and operated by more than 275 leading private colleges and universities across the U.S. PC529, as the plan is also known, enables families to save on college costs by pre-purchasing tuition at today’s rates.
“Access and affordability are important priorities for all of the ACM institutions,” said David Anderson, President of St. Olaf College and Chair of the ACM Board of Directors. “This plan is another tool that families can use in pursuing high quality college education.”
Through Private College 529 Plan, families can purchase tuition certificates that are guaranteed. A semester of undergraduate tuition for a college or university in PC529 plan that is purchased today will be worth a semester of tuition at that school for up to 30 years — no matter how much tuition rises in the meantime or what happens in the financial markets. Families and students do not have to commit to a college or university until they actually redeem the tuition certificates.
“At the ACM, every day we see the benefits of our colleges collaborating to provide opportunities for students at the 14 campuses,” ACM President Christopher Welna noted. “Private College 529 Plan is an example of the ACM colleges joining with a larger group of private colleges and universities across the country to help make college financially attainable for as many families as possible.”
“Private College 529 Plan is so pleased that all 14 of the ACM’s schools have joined us in our mission to offer families an alternative that takes the risk of rising tuition costs out of college savings planning by offering a guaranteed way to save on the future cost of a higher education,” said Nancy Farmer, president of Private College 529 Plan. “The consortium’s full engagement is a significant milestone for PC529 that will benefit current and future students and families for many years to come.”
Private College 529 Plan was created by authorization of the U.S. Congress for colleges to help families save for college and increase the affordability and accessibility of higher education. The educational mix of more than 275 private institutions participating in PC 529 provides families with a wide range of college choices. As opposed to other state specific congressionally authorized plans, Private College 529 Plan has a national scope and its administrative management is by the institutions themselves.
Families can also visit TomorrowsTuitionToday.org, Private College 529 Plan’s educational website, which offers information on a variety of college savings and planning tools, account owner testimonials that describe families’ real-life experiences utilizing the PC529 Plan as a part of their comprehensive college tuition savings and planning strategies, as well as detailed member school profiles.