A 529 plan (named after Section 529 of the Internal Revenue Code) is a college savings plan that allows families to establish a tax advantaged savings vehicle for educational purposes. 529 plans can work in two ways: as an investment account from which families can withdraw funds for education, or as plan through which future tuition credits can be purchased at a price that is locked in at the current tuition rate of the school in question. However, while there are a number of 529 plans nationally and the investment option is a component of all of them, the majority of the plans are state run and eligible for purchase of tuition credits almost exclusively at public schools.
Grove City College is pleased to partner with the Private College 529Plan in providing this savings opportunity for our students and their families. In addition to the investment option, the Private College 529 Plan also allows participants to “lock in” tuition rates which provide cost certainty for future semesters at Grove City College. More information about this plan may be found at: https://www.privatecollege529.com.
The information contained herein should not be construed as tax or investment advice. As always, before making any financial decision, it is important to research the issue and obtain advice from licensed professionals.