The Plan gave people an extra month, to January 31, to sign up, due to a last minute flurry of interest in the program. The level of enrollment in the program demonstrates that this is a much needed avenue for paying for a college education. The college savings program started by Treasurer Perdue has become an unqualified success. The fund recorded 12.2 percent investment earnings for the last fiscal year, which was the highest among all state investment pool. The Prepaid College Plan allows people to lock in today s tuition costs for attendance at some time in the future.
Contracts are available in increments of from one to five years of tuition.
Payments on contracts can be made in a lump sum, by monthly installments over five years or for an extended period. The Prepaid Plan pays full in-state tuition and mandatory fees at any West Virginia public college or university. However, the Plan benefits can be transferred to any accredited college or university in the country. Also, purchasers of the contracts can receive a special deduction on their West Virginia personal income taxes. No other tuition savings program offers that benefit.