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
|