Prepaid college tuition plan begins second year

CARSON CITY -- Enrollment opens Monday for the second year of a program that allows parents to pay up front for the college tuition of their children.

About 2,800 youngsters were signed up last year for the Nevada Prepaid College Tuition plan. State Treasurer Brian Krolicki, whose office oversees the program, expects about 1,500 children to be enrolled this year. The open period for sign-up lasts from Aug. 30 to Nov. 16 with payments beginning in February 2000.

Applications for newborns are accepted throughout the year.

Those who contribute receive a guarantee that their children's tuition will be taken care of at a Nevada university of community college, no matter how high their increase.

Under the new schedule, the lump-sum payment for a newborn will be $6,793 to guarantee the tuition at UNLV or the University of Nevada, Reno. The parents or relatives could choose a five-year option of $136 a month. Or they could pay $59 a month for 210 months to cover the future tuition.

For a first grader, the lump sum would be $7,669; for the five-year plan, $154 a month and for the extended program $84 for 138 months. Payments can start for children up until the ninth grade. But the amounts escalate as the child grows older.

A contract for a two-year community college prepaid tuition would cost $2,114 in a lump sum at birth. For a first grader, it would rise to $2,294 for a single payment; $47 a month for the five-year plan or $26 for 138 months.

Those who want more information can call for a free booklet on the hotline at 1-888-477-2667 or 486-2025.

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