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WV Prepaid Tuition Plan
As of March 8, 2003, The West Virginia Prepaid Tuition Plan is closed to new enrollments. This does not affect those already enrolled in the plan.
The West Virginia Prepaid Tuition Plan was designed to provide West Virginia families with a convenient method of prepaying for future tuition costs by purchasing prepaid tuition units.
On March 8, 2003, the West Virginia Legislature enacted House Bill 2953, which continued the Prepaid Tuition Plan, but closed it to new enrollments. This action did not affect those already enrolled in the Plan.
HB2953 also created the Prepaid Tuition Trust Escrow Account "to guarantee payment of Prepaid Tuition Plan Contracts." The Escrow Account will receive transfers of up to $1 million from the Unclaimed Property Trust Fund each year there is an actuarially determined unfunded liability in the Prepaid Tuition Trust Fund. If the Prepaid Tuition Trust Fund would ever need help, the funds in the Escrow Account will be available.
Prepaid Tuition Plan Benefits
Plan benefits can be used at eligible higher education institutions nationwide. Benefits for fall semester are available for distribution beginning in July, and in November for the spring semester. For further information, refer to the Distribution Guide and Distribution Form, which are available in PDF format. The current Benefit Value Schedule, is also available as of July 1 each year.
The value of the Prepaid Tuition Plan benefit is based on the cost of Tuition and Mandatory Fees at West Virginia public colleges and universities for in-state, full-time undergraduate students. Each year, benefit values are set by the Board of Trustees of the West Virginia College Prepaid Tuition and Savings Program. Benefit values vary depending upon the eligible institution at which the beneficiary is enrolled.
Note to Prepaid Plan Participants:
Please be aware that changes made to personal information of the "Account Owner", "Beneficiary", "Successor Owner", and "Information Access" forms will be changed across all West Virginia Prepaid Tuition Plan accounts.
Personal information is defined as name, address, telephone number, etc. Confirmation notices will sent only to the "Account Owner" whenever a change is made.