If your son or daughter is among the thousands of alumni children who hope to attend alma mater, then Canisius can help you get a head start on his or her college savings. The college now participates in the new Independent 529 Plan, an income tax-advantaged way to save for tuition. Similar to the former Canisius College Alumni Tuition Plan, which was among the first pre-paid tuition programs in the country, the Independent 529 Plan allows families to purchase tuition certificates at any of the 200 participating private schools and lock in tomorrow's tuition at less than today's price.
"The Independent 529 Plan provides a way for parents to contribute and pay for a private college, such as Canisius, without worrying about either investment risk or tuition inflation," explains Dr. Laurence W. Franz, the college's vice president for business & finance and treasure.
"Think of it as buying a shopping certificate for use at any of the stores at a mall," adds Doug Brown, president and CEO of Tuition Plan Consortium, which oversees the Independent 529 Plan. "Students don't choose their college at purchase, only after they have applied and are accepted in the regular manner." Canisius offers an added incentive to plan purchasers: a one percent discount off the price of tuition and fees, each year, until the student enrolls.
To learn more about the Independent 529 Plan, visit the plan Web site at www.indepedent529plan.org, call 1-888-718-7878 to request an enrollment kit, or contact the Canisius College Financial Aid Office at 716-888-2300.
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