>> Prospective Student Financial Aid Index

The Tuition Plan Consortium

http://www.independent529plan.org

Toll Free 888-718-7878

The University of Notre Dame has joined a large and growing number of private institutions of higher education nationwide in supporting a new Independent 529 Plan designed to help keep college costs affordable and to stop the clock on future tuitions. As the most visible and prominent Catholic university in the country, Notre Dame’s leadership role in promoting planning and saving for education is fully consistent with its most basic mission. The national program, initially called Tuition Plan Consortium (TPC) and now known as the Independent 529 Plan, received final approval in 2003 as a federal 529 college savings plan, including very favorable federal income tax treatment.

Here are the highlights:

• Made possible by the Economic Growth and Tax Relief Reconciliation Act of 2001
• Full portability of the program to all participating private institutions, currently over 250 and growing
• Would provide a guaranteed amount of future tuition and mandatory fees based upon amount contributed and each institution’s tuition
• Does not guarantee admission to any participating institution but will offer a wide range of choices
• Currently limited to undergraduate tuition and fees
• May be purchased by any US citizen on behalf of any individual
• A minimum of three years of participation required prior to first disbursement; 12 months of participation prior to refund or transfer to another type of account
• Benefit is transferable to sibling or other family members including cousins
• No income limitations for favorable tax considerations
• Each institution will also offer a modest tuition discount from today’s costs
• Minimum $25 contribution to open, must accumulate $500 within two years or money will be refunded
• Plans provide for automatic bank account transfers
• Maximum total limit per beneficiary determined by highest tuition of participating institution x five
• Teachers Insurance and Annuity Association—College Retirement Equities Fund (TIAA/CREF), a New York based investment company, will be responsible for all aspects of administration

 

 

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University of Notre Dame - Office of Student Financial Services

Financial Aid	Student Accounts
115 Main Building	100 Main Building
Notre Dame, IN 46556	Notre Dame, IN 46556
Phone: 574-631-6436	Phone: 574-631-7113
Fax: 574-631-6899	Fax: 574-631-7117
finaid@nd.edu	stdacct@nd.edu

Student Employment

115 Main Building

Notre Dame, IN 46556

Phone: 574-631-6454

Fax: 574-631-6899

stdempl@nd.edu