<p>Yet another Virginia resident here in the same VPEP situation regarding the pre-paid tuition plan. The folks at the agency that administers the program told me that if I convert the pre-paid plan for 2005-06 to a regular 529 plan (the VEST Plan) I will receive about $6,300 toward tuition at an out-of-state private college versus the $5,600 value of the VPEP for next year which represents the average tuition of all VA 4-year publics this year (which will probably go up 7-8% for 2005-06). I just look at it as $6,300 in PLUS loan funding that I can avoid next year. Hope this helps.</p>