The program allows parents, grandparents and other family members or friends to ensure a child’s college is fully funded.
With substantial hikes in tuition continuing each year, the program allows contributors to lock in the cost of a child’s future education at today’s rate.
“Like many things, the cost of attending college continues to rise,” Nevada State Treasurer Kate Marshall said in a press release. “The Nevada Prepaid Tuition Program provides families with the opportunity to meet future tuition costs at today’s lower rates.”
This year, the plan’s theme is “Their Dream, Your Promise, Our Plan.” Since its inception in 1998, 14,120 Nevadans have signed prepaid contacts with the program.
During last year’s open enrollment period for 2010, some 500 new participants opened an account, according to Steve George, spokesman for the state Treasurer’s Office.
The Nevada Treasurer’s Office also recently announced the Silver State Matching Grant Program, which provides lower- to middle-income state families an enhanced opportunity to save for their children’s college education. Is program will accept applications until June 30.
The Nevada Treasurer’s office has contacted Washoe County school children starting at the elementary level. The treasurer’s staff also attend school fairs, counselor meetings and other events to distribute information to encourage families to start saving.
The program is fully transferable to private or public out-of-state colleges and universities and can be transferred to another family member, including first cousins. Parents have choices for newborns to ninth-graders. They can pay a lump sum, spread the payments out over five years with 60 equal payments, or pay each month from the time of enrollment until the child is ready to start college.
For more information, visit https://NevadaTreasurer.gov or call 702-486-2025, or 888-477-2667. The website now has an online registration function and automatic payroll deduction option.