I’d like to know if anyone has experience with PrivateCollege529?
Due to timing issues, I think we can only use it to fund D’s Senior year of college. She’s about to graduate from high school and it looks to me like we can use PrivateCollege529 to pre-pay her senior year (before July 1) for less than her freshman year (because current enrollment is based on the 2015-2016 year).
I’d love to hear of experiences or tips.
We saved thousands of dollars by using the Private 529. Our daughter had made her college decision by December of her HS senior year so we were able to buy 3 semesters. My only advice is to keep good records of the bills and payments. Taxes are much easier, and less likely to be questioned by IRS, if you have the funds sent directly to the school from the Private 529, rather than having them sent to you or your student and then paying the school.
Thank you. We could have done it in December (early decision) but I didn’t think that one through. I was only thinking of school years, not semesters!
My older D’s school allowed us to prepay 2-3-4 years tuition at once. We prepaid twice, at the beginning of freshman year and the beginning of Junior year.