The Independent 529 Plan is the first national prepaid tuition program that enables families to save for private higher education.

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Independent 529 Plan is a prepaid tuition plan that enables you to lock in future tuition costs at less than today's prices. Through the Plan, you purchase certificates 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 you 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. It’s a guaranteed plan that offers:

• Freedom from investment risk*
• Freedom from tuition inflation
• Freedom from federal taxes**

With mutual funds and other college savings options, you invest your money in stocks or other securities in the hope that your returns, minus any taxes you might have to pay, will enable you to meet your goals. You may worry that the market will turn, just when you need the funds for college. Because Independent 529 Plan guarantees a distinct tuition benefit at each member college when you buy, you don't have to risk your money in volatile investment markets to keep up with rising college costs. And the plan charges no sales, application or maintenance fees.

You can use Independent 529 Plan certificates to pay for undergraduate tuition and mandatory fees. (Room and board and graduate school tuition are not covered at this time.)

In addition to protection from tuition inflation, Independent 529 Plan provides a certificate discount that enables you to purchase future tuition at less than current prices. The certificate discount varies by institution but is never less than 0.5% per year.

* If you take a refund, rather than redeem your certificate for its intended purpose, the refund will be adjusted based on the net performance of the Program Trust, subject to a maximum return of 2% per annum and a maximum loss of 2% per annum.

** While there is no up front tax deduction, you will not need to pay federal taxes when making a qualified withdrawal. The law allowing for federal income tax-free qualified withdrawals is set to expire on December 31, 2010. Congress may or may not extend this law beyond this date. Future changes in the law may create adverse tax consequences, or lead to termination of the Plan.

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