Prepaid tuition contest under way
Nevada residents who buy a prepaid tuition contract by Dec. 31 are eligible for a drawing for a year’s free tuition.
One Northern Nevada and one Southern Nevada winner will be selected, according to the College Savings Plans of Nevada.
The 2014 open enrollment period for the Nevada Prepaid Tuition Program began on Dec. 1 and concludes Feb. 28.
The Nevada Prepaid Tuition Program enables parents, grandparents, and other family members to lock in future college tuition rates at today’s prices.
State Treasurer Kate Marshall said the funded status of the Nevada Prepaid Tuition Program is currently about 112 percent, and that the board has adopted a plan designed to get the funded status to 120 percent to ensure the long-term viability of the program for Nevada families.
Nevada Prepaid Tuition purchased credit hours may be used at any U.S. Department of Education eligible institution of higher learning, both in-state and out-of-state, including technical and trade schools. If the beneficiary makes the decision to enroll at a college outside of Nevada, the monetary value of the purchased credit hours at a Nevada college would be transferred to the out-of-state college on the beneficiary’s behalf.
Newborns to ninth graders are eligible for the program. Parents have a variety of payment options: lump sum, 60 equal payments over five years, or pay each month from the time of enrollment until the child is ready to start college. The first payment is not due until May 15, 2014.
For more information about the Nevada Prepaid Tuition Program, go to NVPrepaid.gov, or call (702) 486-2025, or toll free, 1-888-477-2667.