Nevada Prepaid Tuition Program Open Enrollment Period Begins

CARSON CITY – The 2012 open enrollment period for Nevada’s Prepaid Tuition Program starts Thursday and runs through Feb. 28, 2012, the state Treasurer’s Office announced today.

Since its inception, 14,120 Nevada Prepaid Tuition contracts have been purchased by Nevadans.

“The Nevada Prepaid Tuition program enables parents, grandparents, and other family members to lock in future college tuition rates at today’s prices,” said state Treasurer Kate Marshall. “Our theme, ‘Their Dream, Your Promise, Our Plan,’ is designed to encourage parents to plan for their child’s future college education needs. Like many things, the cost of attending college continues to rise. The Nevada Prepaid Tuition Program provides families with the opportunity to meet future tuition costs at today’s lower rates.”

Courtesy of the Nevada State Treasurer's Office.

The Treasurer’s Office website has an on-line registration process to make signing up even easier that will be available beginning Thursday. From newborns to ninth graders, parents have a variety of options to participate in this program. Parents can pay a lump sum, spread the payment out over five years with 60 equal payments, or pay each month from the time of enrollment until the child is ready to start college.

The program is fully transferable to private or public out-of-state colleges and universities, and may be transferred to another family member, including a first cousin. The program also offers a gift option that can be used by other family members and friends to give the gift of a college education.

“The program is especially affordable if parents begin an account for newborn children, with plans starting as low as $36 a month,” Marshall added. “The earlier you open an account, the lower the overall cost.”

The number of Nevada Prepaid Tuition accounts rose by 15 percent in the 2011 open enrollment period, and saw a 26 percent increase in 2010.

The Treasurer’s Office is also sending Nevada Prepaid Tuition Program brochures to all elementary school children throughout the state with the assistance of the Nevada Department of Education and the individual school districts and schools. Staff has also attended back to school fairs, counselor meetings, and other events to distribute information about the program.