NORTHFIELD, Vt., Sept. 9, 2016 /PRNewswire/ -- Norwich University, the nation's oldest private military college and birthplace of the Reserve Officers' Training Corps (ROTC), has joined Private College 529 Plan, a consortium of 284 colleges that guarantees a locked-in tuition rate for prospective students.
College savings and pre-paid tuition plans, called 529 plans, are offered nationwide. Private College 529 Plan enables families to prepay tuition, avoiding future increases in the cost of college or the risk associated with financial market volatility.
"By joining Private College 529 Plan, Norwich is offering just one more way to help families make a private college education more affordable," Vice President for Enrollment Management Greg Matthews said.
This exciting news comes on the heels of another new initiative announced by the school and launched in May 2016 advising that Vermont students seeking majors in science, technology, engineering and math (STEM) have a chance for an upfront award of $25,000-30,000 for each of their four years at Norwich University.
"Private College 529 Plan has helped families save on the cost of college for over a decade at leading private schools nationwide – research universities, liberal arts colleges, STEM schools, and faith-based institutions," said Nancy Farmer, president of Private College 529 Plan. "We are pleased to welcome Norwich as the first member school to offer a military education option to our account owners and believe it is fitting that they join during September which is widely known as National College Savings Month."
This fall marks the 10 year anniversary of the first account owners who began redeeming tuition from Private College 529 Plan. Since these families led the way, there have been nearly 5,000 redemptions allowing thousands of students to save on the cost of attending private college by prepaying for their higher education through the Plan.
About Norwich University
Norwich University is a diversified academic institution that educates traditional-age students and adults in a Corps of Cadets and as civilians. Norwich offers a broad selection of traditional and distance-learning programs culminating in Baccalaureate and Graduate Degrees. Norwich University was founded in 1819 by Captain Alden Partridge of the U.S. Army and is the oldest private military college in the United States of America. Norwich is one of our nation's six senior military colleges and the birthplace of the Reserve Officers' Training Corps (ROTC). www.norwich.edu
In fulfillment of Norwich's mission to train and educate today's students to be tomorrow's global leaders and captains of industry, the Forging the Future campaign is committed to creating the best possible learning environment through state-of-the-art academics and world-class facilities. Norwich University will celebrate its bicentennial in 2019. Learn more about the campaign and how to participate in the "Year of Transformation" here: bicentennial.norwich.edu.
About Private College 529 PlanSM
Owned and operated by the Tuition Plan Consortium, a group of nearly 300 leading private colleges and universities, Private College 529 Plan was created to help families save for college and increase the affordability of private higher education. Private College 529 Plan enables families to invest in their children's future by prepaying tuition at member institutions, protecting their assets from tuition increases and volatility in financial markets.
Private College 529 Plan's participating schools offer families choices ranging from research universities to liberal arts colleges, urban, suburban, rural, highly selective and less selective. Today, Private College 529 Plan is working for over 6,000 families. For more information, visit privatecollege529.com/prepay.
Private College 529 Plan is established and maintained by Tuition Plan Consortium, LLC. OFI Private Investments Inc., a subsidiary of OppenheimerFunds, Inc., is the program manager. Participation in the Plan does not guarantee admission to any college or university, nor does it affect the admissions process. Not insured or guaranteed by the FDIC, TPC, any governmental agency or OFIPI or its affiliates. Carefully consider the risks associated with purchases and refunds of tuition certificates. The Disclosure Statement, including the Enrollment Agreement, contains this and other information about the Plan, and may be obtained by visiting privatecollege529.com or calling 1.888.718.7878. Read these documents carefully before purchasing a tuition certificate.
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SOURCE Private College 529 Plan