Private College 529 Plan helps address college costs
The Private College 529 Plan gained attention this week with the news that the Associated Colleges of the Midwest — a consortium of academically excellent, independent liberal arts colleges that includes St. Olaf — officially joined the plan.
St. Olaf has been a member of the Private College 529 Plan since its launch in 2003. It is now joined by all of the other 13 ACM institutions.
The Private College 529 Plan enables families to prepay tuition at member institutions, protecting their savings from annual tuition inflation.
“Access and affordability are important priorities for all of the ACM institutions,” says St. Olaf President David R. Anderson ’74, who also serves as chair of the ACM Board of Directors. “This plan is another tool that families can use in pursuing high-quality college education.”
Owned and operated by more than 275 leading private colleges and universities, the Private College 529 Plan was created by authorization of the U.S. Congress for colleges and their consortia to help families save for college and increase the affordability and accessibility of higher education.