Many parents break out in a cold sweat when they think about the price of higher education. But Carnegie Mellon has joined forces with more than 200 colleges and universities nationwide to help parents provide—and afford—a private college education for their students.
The Independent 529 Plan, a new tax-advantaged prepaid college tuition program created specifically for private colleges, locks in tuition at today's prices. U.S. residents more than 18 years of age may purchase certificates that can be used to pay future tuition costs for a named beneficiary. Those certificates, redeemable at participating colleges across the country, can be used to pay the percentage of tuition that was originally pre-purchased. The December 15 issue of BusinessWeek named Independent 529 Plan one of its "Best Products of 2003." For more information, including a list of participating colleges and universities, visit the Web at https://www.independent529plan.com.
