The State Treasurer’s Office announced the start of this year’s open enrollment period for the Nevada Prepaid Tuition Program, which will last from now through March 31, 2020.
The Nevada Prepaid Tuition Program provides a convenient and affordable way for families to save and pay for higher education by locking in the cost of in-state tuition today, for use in the future. The program is one of only 11 Prepaid Tuition programs in the country, and has helped over 21,000 Nevadans pursue higher education affordably since its creation in 1998.
Prepaid Tuition contracts can be used to pay for tuition at Nevada System of Higher Education institutions or transferred to pay for tuition at eligible public or private colleges and universities across the country (at an amount equal to Nevada’s in-state tuition). Nevada’s program offers a variety of Prepaid Tuition contract levels from community college to university. Payment options are flexible to meet the needs of Nevada’s families, with rates as low as $39 per month. Prepaid Tuition contracts also provide flexibility in the event that a student’s college plans change, allowing for a contract to be used for up to six years after high school graduation, transferred to a family member (up to first-cousins), applied towards graduate school, and even refunded in certain circumstances.
Payments can be made in a lump sum, monthly installments over a five or 10 year period, or even on an extended payment schedule aligned with a student’s high school graduation year. Once a plan is purchased, monthly payments remain the same regardless of future increases to in-state tuition.
Families who purchased a 4-year university Prepaid Tuition plan for their newborn child in 2001, saved approximately $21,800 in tuition costs when their child started college in 2019.
For more information, or to enroll in the Nevada Prepaid Tuition Program, please visit NVPrepaid.gov or call (888) 477-2667.