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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Wow is that now the prepaid works? You pay in the current value of tuition and it covers whatever tuition is at the time you matriculate?  That could be a pretty sweet deal, depending on a family’s finances.

We were not interested when we moved here a few years ago, as Kid prob won’t attend public va school and we don’t need the savings, so didn’t research the specifics. But Interesting!
[/quote]

Basically.  You lock in the cost of VA Tuition and you have how every many semesters you bought locked in. My kids have 8 semesters each.  Will 100% cover tuition and fees at any state school— 2 year or 4 year.  2 year has a conversion factor, so you get more than one semester of CC. 4 year you pay zip (except room and board and up charges for some special programs like engineering and nursing), whether your kid goes to WM, UVA, VCU, Longwood, or someplace else.  Can pay lump sum, or some each month (we autodebit each month).

In practice, you come out way ahead on VMI and WM.  We started in 7th and will finish paying the May before DS starts college.  WM is highly likely for this kid. In that case, we will have paid $68,000 for 4 years of tuition valued at about $100,000.  UVA, we would break even or be slightly ahead.  [b]VT, VCU, JMU, we would lose money (maybe $8-10k). [/b]But, I am very risk adverse.  So knowing that I have locked in their college tuition no matter what happens to the economy or the cost of state schools helps me sleep at night.  And knowing WM is likely for at least one kid means we will come out ahead between the two.

If DC goes in state private, we get what we put in with a decent rate of return. OOS school?  We get the average price of a VA 4 year school, so we will end up behind what we would have in an INVEST account (unless the economy tanks).

But, if DC1 goes OOS, we will probably roll two years over to fully fund DC2 (who is 2 years younger) and then keep saving everything else into INVEST, to minimize the hit if neither kid goes in state.

We are also saving about 2 years of room and board per kid in the INVEST.  We can make up the other 2, plus some gap between public and private.

The WM bonus would be great. But for me, it’s just peace of mind. No matter what else happens, I can send both kids to WM/ VT/ UVA without debt or digging into retirement. I wish I could say, to any college they want. But a WM/ UVA/VT hard science education with no loans is nothing to sneeze at. [/quote]

Is this true?  You would actually lose the money that you put into the account if you choose a VA school that costs less?[/quote]

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