LAS VEGAS – The Nevada State Treasurer’s Office announced the start of open enrollment for the Nevada Prepaid Tuition Program, offering enrollees an account for a discounted enrollment fee of $0.01 until Dec. 31.
In addition to the low enrollment cost, enrollees will receive a $100 deposit into a Nevada Sponsored 529 College Savings account. The Nevada Prepaid Tuition Program helps families financially prepare for higher education by locking in today’s in-state college tuition rates for their children’s use in the future.
“We are excited to announce that the open enrollment period has begun for our Prepaid Tuition Program and that all families who enroll before December 31, 2021 can open an account for just a penny,” said Nevada State Treasurer Zach Conine. “The Nevada State Treasurer’s Office offers a variety of programs and services aimed at making higher education a realistic option for every Nevadan. I encourage all Nevada families to enroll in the Prepaid Tuition Program as it makes a substantial difference in affording higher education.”
Established in 1997, the Nevada Prepaid Tuition Program has helped 22,740 Nevadans plan and save for higher education and is one of only 11 prepaid tuition programs in the country.
Benefits of the Nevada Prepaid Tuition Program include:
- Locking in future college tuition at today’s tuition prices
- According to the Nevada System of Higher Education, the cost per university credit hour has risen from $79 in the 2002-2003 school year to $224 in the 2018-2019 school year.
- Contracts for credit hours at both two-and four-year Nevada public colleges or universities
- Nationwide transferability of benefits to eligible out-of-state or private universities
- Contract rates 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 available to fit a variety of family budgets and timelines
- Plan options 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 plan chosen. Families may invest in the program if 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, 2021 to April 15, 2022. To enroll or learn more about the Nevada Prepaid Tuition Program, visit NVPrepaid.gov or call (702) 486-2025.