Virginia Pre-Paid 529 Plan Going up 10%
The price of joining the Virginia pre-paid college tuition plan is going up 10%, reports the Richmond Times-Dispatch.
Blame sagging investment returns and rising college costs.
The cost of a lump-sum contract to lock in four years of tuition at a state-supported college or university for the parents of a kindergartner will increase from $39,944 last year to $44,060 during the new enrollment period, which runs from Dec. 1 to Feb. 28. In comparison, the state raised prices 7 percent last year and 8 percent two years ago.
The 10.3 percent increase this year is in part to shore up the program’s reserve, which fell below its 10-percent standard to 9.2 percent.