Hoffman and Company
Newsletter
529 Plans: Prepaid Tuition Plans

Current as of October 22, 2007

This table provides 529 prepaid tuition plan information. The first section covers state-sponsored plans; the second covers college-sponsored plans.

State-Sponsored Prepaid Tuition Plans
State Name of plan, manager, contact information Residency restrictions Contribution limit State tax benefits
AL Prepaid Affordable College Tuition (PACT) Program
Alabama State Treasurer
treasury.state.al.us
(800) 252-7228
Open to all $23,388 for a four-year contract purchased in lump sum for 9th grader Qualified withdrawals from Alabama 529 plans (but not other states' 529 plans) are tax free
CO Prepaid Tuition Fund
State Treasurer
collegeinvest.org
(800) 448-2424
Note: This plan is closed to new enrollments until further notice but will continue to provide benefits to existing participants



FL Florida Prepaid College Plan Florida Prepaid College Board
florida529plans.com
(800) 552-4723
Beneficiary or parent/guardian must be a Florida resident for at least 12 months prior to enrollment $35,740 for a four-year contract purchased in lump sum for 8th grader Florida has no state income tax
IL College Illinois! 529 Prepaid Tuition Program
Illinois Student Assistance Commission
collegeillinois.com
(877) 877-3724
Account owner or beneficiary must be an Illinois resident for at least 12 months prior to enrollment $51,323 for a nine-semester contract purchased in lump sum for 9th grader or older Qualified withdrawals are tax free, and contributions to in-state plan are deductible, up to a cap
KY Kentucky's Affordable Prepaid Tuition (KAPT)
Kentucky Higher Education Assistance Authority
getKAPT.com
(888) 919-5278

Beneficiary must be a Kentucky resident or plan to attend a Kentucky college $83,559 for five-year premium plan purchased in lump sum Qualified withdrawals are tax free
MD College Savings Plans of Maryland - Prepaid College Trust
College Savings Plans of Maryland
collegesavingsmd.org
(888) 463-4723
Account owner or beneficiary must be a Maryland or District of Columbia resident $47,250 for a five-year contract purchased in lump sum for 9th grader Qualified withdrawals are tax free, and contributions to in-state plan are deductible, up to a cap, with an unlimited carryover of excess contributions
MA U.Plan
Massachusetts Educational Financing Authority
mefa.org
(800) 449-6332
Note: This plan does not meet the requirements of Section 529 of the Internal Revenue Code
Open to all Cost of tuition and fees for four years at the highest-cost participating institution Qualified withdrawals are tax free
MI Michigan Education Trust
MET Board of Directors and Treasury Department
met4kid.com
(800) 638-4543
Beneficiary must be a Michigan resident $45,832 for a four-year contract purchased in lump sum for a 12th grader Qualified withdrawals are tax free, and all contributions to in-state plan are deductible
MS Mississippi Prepaid Affordable College Tuition (MPACT) Program
Mississippi Treasury Department
treasury.state.ms.us
(800) 987-4450
Account owner or beneficiary must be a Mississippi resident $23,300 for a five-year contract purchased in lump sum for 12th grader Qualified withdrawals are tax free, and all contributions to in-state plan are deductible
NV Nevada Prepaid Tuition Program
State Treasurer
nevadatreasurer.gov/college
(888) 477-2667
Account owner or beneficiary must be a Nevada resident or account owner must be an alumnus of a Nevada college $17,000 for a four-year contract purchased in lump sum for 9th grader Nevada has no state income tax
OH Ohio CollegeAdvantage-Guaranteed Savings Fund
Ohio Tuition Trust Authority
collegeadvantage.com
(800) 233-6734
Note: This plan is closed to new enrollments until further notice but will continue to profide benefits to existing participants



PA Pennsylvania 529 Guaranteed Savings Plan
State Treasury
nowu529.com
(800) 440-4000
Account owner or beneficiary must be a Pennsylvania resident $368,600 Qualified withdrawals are tax free, and contributions to any state's 529 plan are deductible, up to a cap
SC South Carolina Tuition Prepayment Program
State Treasurer
scgrad.org
(888) 772-4723
Beneficiary must be a South Carolina resident for at least 12 months prior to enrollment $17,088 for a two-year contract purchased in lump sum for 10th grader Qualified withdrawals are tax free, and all contributions to in-state plan are deductible
TN Tennessee's BEST Prepaid College Tuition Plan
State Treasurer
treasury.state.tn.us/best
(888) 486-2378
Account owner or beneficiary must be a Tennessee resident $235,000 Tennessee has no state income tax
TX Texas Guaranteed Tuition Plan
Texas Prepaid Higher Education Tuition Board
texastomorrowfunds.org
(800) 445-4723
Note: This plan is closed to new enrollments until further notice but will continue to provide benefits to existing participants



VA Virginia Prepaid Education Program (VPEP)
Virginia College Savings Plan
virginia529.com
(888) 567-0540
Account owner, beneficiary, or parent of a nonresident beneficiary must be a Virginia resident $48,225 for a five-year contract purchased in lump sum for a newborn Qualified withdrawals are tax free, and contributions to in-state plan are deductible, up to a cap, with an unlimited carryover of excess contributions
WA Guaranteed Education Tuition (GET)
Washington State Higher Education Coordinating Board
get.wa.gov
(800) 955-2318
Account owner or beneficiary must be a Washington resident $37,000 for 500 units Washington has no state income tax
WV SMART529 Prepaid Tuition Plan
State Treasurer
smart529.com
(866) 574-3542
Note: This plan is closed to new enrollments until further notice but will continue to provide benefits to existing participants



College-Sponsored Prepaid Tuition Plans
Independent 529 Plan
Tuition Plan Consortium, LLC
independent529plan.org
(888) 718-7878
Open to all Cost of five years full-time undergraduate tuition and mandatory fees at the highest-cost participating institution Varies from state to state; contact a tax professional


Prepared by Broadridge Investor Communication Solutions, Inc, Copyright 2011