Neuman: Lock in Today's Tuition Rates for Tomorrow's Education

Plan for tomorrow—lock in today's college tuition rates by opening or contributing to a Pennsylvania 529 Guaranteed Savings Plan before the end of the month. 

Credit rates will increase Sept. 1 to correspond with the tuition increases set by colleges and universities.

In order to take advantage of lower credit rates, contributions sent by mail must be postmarked on or before Aug. 31. Online contributions must be made by 10 p.m. EST Aug. 31 at www.pa529.com.

To help you get even more bang for your college buck, the state Treasurer's Office is offering free enrollment—a $50 savings—for all new Guaranteed Savings Plan accounts opened online in August and September at www.pa529.com. Use the code SAVE NOW when prompted.

When used for qualified higher education expenses, contributions grow at the rate of tuition inflation. If you save enough for one semester today, you will have enough for one semester in the future, no matter when or how much tuition has increased.

Click here to calculate college costs and learn more about financial aid available to you.

I welcome your feedback on this or any state-related issue.