In an effort to help parents save for higher education in a structured way, allowing Nevadan’s the opportunity to purchase in-state college tuition at today’s price for use in the future when their child is ready to attend college, the Nevada State Legislature established the Nevada Prepaid Tuition Program (Program) in 1997.
The Program is offered pursuant to Nevada Revised Statutes (NRS) 353 B and the Nevada Administrative Code (NAC) 353B. Internal Revenue Service (IRS) Code Section 529 authorizes states and state agencies to establish and maintain tax-advantaged qualified tuition programs intended to assist individuals and families in paying for qualified higher education expenses.
The Nevada Prepaid Tuition Program, administered by the State Treasurer through the Board of Trustees of the Nevada College Savings Plans, is a qualified 529 plan. Funds are deposited and managed in the Nevada Higher Education Tuition Trust Fund.
As noted above, the Program allows you to purchase tomorrow’s in-state college tuition at today’s rates. The Program offers flexibility and portability and provides a variety of plan choices and payment options. When the student is ready to use his/her benefits, the Program will pay for the number of undergraduate credit hours previously paid for by the Purchaser. At the time the beneficiary graduates from high school, and attends college, the Program will pay the in-state rate of credit hours at two and four year public colleges and universities located in Nevada, or transfer the in-state rate of credit hours to any eligible institution on behalf of the student. In other words, when your child is ready to attend college, the number of tuition credit hours purchased years ago, are ready and waiting!
Students have 6 years after high school graduation to utilize their benefits.
Benefits can be transferred to any Eligible Institution nationwide. This includes any accredited public or private university, college, or vocational school that is qualified to participate in federal financial aid programs through the U.S. Department of Education.
Peace of Mind
Know your costs, prepay future in-state tuition by locking in your payment based on today’s rates. Payments are affordable and will not change regardless of future in-state tuition increases. Rates start as low as $39/month for a newborn.
The Program can be used in conjunction with the Millennium Scholarship and other 529 College Savings Plans.
Cancel at any time and request a refund. (Administrative and/or outstanding fees may apply).
- 4 Year University Plan (120 credit hours)
- 2 Year University Plan (60 credit hours)
- 1 Year University Plan (30 credit hours)
- 2 Year Community College Plan (60 credit hours)
- 2 Year Community College + 2 Year University Plan (120 credit hours)
- One time lump sum
- 5 Year (60 monthly payments)
- 10 Year (120 monthly payments)
- Extended Monthly (monthly until high school graduation)
Prepaid Tuition earnings are tax exempt when benefits are used for higher education.