Dec. 16, 2005
 
Wheeling Jesuit University Joins Independent 529 Plan
 
By HNN Staff
 
Wheeling, WV (HNN) Wheeling Jesuit University has joined Tuition Plan Consortium’s Independent 529 Plan, allowing families to lock in tuition rates at less than present levels for their children’s future use.
 
Independent 529 Plan was launched in 2003 in a cooperative effort by a national group of private colleges and universities to help manage the rising cost of higher education. Under the program, individuals purchase tuition certificates for future redemption at any of the 250-plus participating private colleges and universities, now including Wheeling Jesuit University.
 
"Wheeling Jesuit University has made accessibility a high priority for many years, providing institutional aid to students when other forms of aid were not available," said Rev. Joseph R. Hacala, S.J., university president. "By participating in Independent 529 Plan, we are enhancing our commitment to keep Jesuit education affordable and accessible to the next generation of leaders.”
 
“We are extremely pleased to have Wheeling Jesuit join our national organization,” said Nancy Farmer, president, Tuition Plan Consortium. “Independent 529 Plan is an innovative, economical way for parents, grandparents, and others to provide for children’s future education at less than today’s cost.”
 
U.S. NEWS & WORLD REPORT ranks Wheeling Jesuit University 17th in the "Best Master's Universities in the South," making it the highest ranked institution in West Virginia for eight consecutive years. Wheeling Jesuit University offers more than 30 undergraduate programs of study and six graduate degrees to about 1,500 students each year.
 
Independent 529 Plan is run by the nonprofit Tuition Plan Consortium and administered by TIAA-CREF Tuition Financing, Inc. Tuition-prepayment certificates can be redeemed at any of the more than 250 participating colleges and universities nationwide. Benefits are free of federal income tax, and the plan charges no enrollment or maintenance fees.
 
“In return for account owners’ prepaying college costs, member colleges accept the investment risk and protect parents and students from future tuition increases,” said Farmer.”Tuition purchased today is guaranteed to satisfy costs at the time the child enrolls. So, a parent who purchases a half-year of tuition today provides a half-year tuition when his or her child later redeems the tuition certificate at a member institution. This is true regardless of how much tuition rises or what happens in the investment markets.”
 
For more information about staring your Independent 529 Plan for WJU, contact the Wheeling Jesuit University Advancement Office at 800-888-2586 or TIAA-CREF at (800) 718-7878 or visit www.independent529plan.org.