Why Choose the Independent 529 Plan
As stated on the Independent 529 Plan website, parents of college and university students should consider, “Assuming that private college tuition inflation continues at an average rate of 6% per year and an Independent 529 Plan annual discount rate of 1%, it’s like earning a 7% increase in value each year—tax-free. In this example, instead of paying $44,770 for tuition in 10 years, you could pay just $22,610 by prepaying today! Of course, you don’t have to buy a whole year. You can buy a fraction of a year, and reap proportional benefits. This is a hypothetical illustration, and assumes a 6% tuition inflation rate. Actual savings and tuition rates may varyâ€.Referenced Source(s): http://www.independent529plan.org
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