MOUNT VERNON, Iowa, Nov. 18, 2014 /PRNewswire/ -- Cornell College today announced that it is now offering students a way to hedge against the rising cost of college tuition by joining Private College 529 PlanSM, a pre-paid tuition savings plan that allows participating families to lock in today's tuition rates for future use.
Under the PC529 plan, families purchase tuition certificates that guarantee the student's tuition at the current year's rate for 30 years from the date of purchase – no matter how much tuition costs rise or what happens in the financial markets.
According to Colleen Murphy, vice president for enrollment and dean of admission, Cornell College joined the plan as part of its ongoing effort to ensure affordability for families committed to private liberal arts colleges.
"By locking in the current tuition rate, Private College 529 Plan extends the value of a Cornell College education and offers our students and their families a path toward securing a unique educational experience that only Cornell can offer," she said.
Founded in 1853, Cornell College distinguished itself as a visionary leader in higher education as the first college west of the Mississippi to grant women the same rights and privileges as men, and in 1858 it was the first Iowa college to graduate a woman. In 1978, Cornell became the second college in the nation to adopt the block plan, or One Course At A Time, an academic calendar in which students devote themselves to just one subject for three-and-a-half-week course terms. Today, Cornell College is a thriving liberal arts institution firmly ensconced on several influential "best colleges" lists.
"Private College 529 Plan's consortium of 278 private colleges and universities are committed to making a private college education more accessible and affordable for today's families despite rising tuition costs and student loan debt," said Nancy Farmer, president of Private College 529 Plan. "We applaud Cornell College for joining our initiative and believe they share the same goal of providing a quality, private education while offering an alternative option to help offset the cost burden on their students."
Private College 529 Plan is offered by the Tuition Plan Consortium, LLC (TPC), a national group of private colleges and universities.
For more information, visit www.PrivateCollege529.com or www.TomorrowsTuitionToday.org.
About Cornell College:
One of the 40 "Colleges That Change Lives," Cornell College in Mount Vernon, Iowa, is a national liberal arts college with a distinctive One Course At A Time curriculum. The One Course schedule provides students the chance to dive into their studies, focus more intensely on the disciplines of their choice, and learn authentically with the unique freedom to shed the confines of the traditional classroom to study off-campus, pursue research, or accept an internship—all without missing out on other classes.
Cornell has been recognized by numerous publications for the value its education offers and for academic excellence. This year it was named one of the 100 best values in liberal arts education by Kiplinger's, one of the "Best Values Schools" among national liberal arts colleges by U.S. News and World Report, and one the 100 Affordable Elite Colleges by Washington Monthly. Ninety-three percent of Cornell graduates earn their degrees in four years. In 2013 Cornell was named one of the 25 colleges with the best professors by the Center for College Affordability and Productivity.
For more information, visit http://www.cornellcollege.edu.
About Private College 529 PlanSM
Owned and operated by more than 270 leading private colleges and universities, 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. Private College 529 Plan enables families to invest in their children's future by prepaying tuition at member institutions, protecting their savings from annual tuition increases.
The educational mix of private institutions participating in Private College 529 Plan provides families with a wide range of college choices. As opposed to other state specific plans, Private College 529 Plan has a national scope, with participating private colleges across the United States. It also differs in that its administrative management is by the institutions themselves as opposed to government.
Today, Private College 529 Plan is working for over 6,000 families with more than $310 million under management.
For more information, visit https://www.privatecollege529.com/.
SOURCE Private College 529 Plan