Norfolk, Va. – The deadline to apply for the Virginia529 prePAID tuition assistance program for 2016 is on March 31.
The prePAID program allows families to prepay future tuition and mandatory fees at Virginia public colleges or universities for newborn through ninth graders.
Accounts can be opened only during a limited enrollment period each year and either the account owner or beneficiary must be a Virginia resident at the time the account is opened.
Benefits are not limited to public schools in Virginia, but the prePAID payouts are different based on the type of school attended – Virginia public, Virginia private or out–of–state – and may not cover the full cost of tuition and mandatory fees at Virginia private colleges or out–of–state colleges.
Virginia529’s other programs are open year round with no state residency or beneficiary age restrictions. Account owners in a Virginia529 savings program may roll their investment into a prePAID contract during open enrollment if other eligibility requirements are met.