ERIC Number: ED363212
Record Type: Non-Journal
Publication Date: 1993-Jan-4
Reference Count: N/A
Report on Prepaid Tuition Program.
Virginia State Council of Higher Education, Richmond.
This report responds to the 1992 Virginia General Assembly's request of the State Council of Higher Education to "study the efficacy and appropriateness of establishing a prepaid tuition trust program within the Commonwealth's system of higher education." They asked that the study include, at least, an examination of programs in other states; the potential social, financial, and educational implications of such a program; and the recommended procedures and policies for the implementation of prepayment programs. The report addresses issues to be considered in advance of taking any final action. It examines the existing pre-paid tuition programs and the options available to Virginia; it also considers such questions as who bears the risk, the tax implications, the implications for financial aid, and what the educational advantages are of having a pre-paid tuition program. The bulk of the report focuses on the "Pay in Advance" options that are available to parents and the specific issues related to pre-paid tuition programs. The role and future of the existing college savers program and the proposed pre-paid tuition program are discussed within sections that (1) summarize the programs offered by the federal government and by other states and examine the major issues related to such programs, (2) provide a status report on current financial aid programs available to Virginia's students, (3) describe the loan programs offered in Virginia, (4) estimate the potential demand for a prepaid tuition program in Virginia, (5) examine the assumptions about investment yields needed to support such a program, and (6) present recommendations for considerations by Virginia's Governor and General Assembly. (GLR)
Publication Type: Reports - General
Education Level: N/A
Authoring Institution: Virginia State Council of Higher Education, Richmond.
Identifiers - Location: Virginia
Identifiers - Laws, Policies, & Programs: Internal Revenue Code