Planning your U.Plan savings
When saving in the U.Plan, you'll need to specify the maturity year(s) of each Tuition Certificate you want to purchase. The maturity year is the year that you'll be able to redeem the Tuition Certificate for tuition and mandatory fees. The maturity year(s) should be one or more of the years in which you expect your child to attend college (e.g. freshman, sophomore, junior and/or senior year).
Use this chart for assistance:
|Age or Grade of Student During the 2019-20 Academic Year||Freshman Year||Sophomore Year||Junior Year||Senior Year|
Be sure to make any adjustments for your child's age and/or grade when selecting maturity year(s). Years listed refer to the academic year beginning with the fall semester. This chart assumes no interruptions of studies and no school district age requirements for kindergarten.
You may designate your savings for just one maturity year or for up to five different maturity years. Each Tuition Certificate will represent one maturity year. For example, if you choose your child's expected freshman, sophomore, and junior years as maturity years, you will purchase Tuition Certificates that mature in each of those years. The maturity years available for purchase in 2020 are 2025 through 2040.
Consider a 4-year strategy
Think about saving for all four years that your child will be in college by designating your savings toward more than one maturity year, and/or by contributing to the U.Plan year after year. Your savings will accumulate and your percentages will add up.
Example: Your child is in Grade 1 during the 2019-20 academic year. He will be in college 2031, 2032, 2033, and 2034. You may purchase Tuition Certificates for all 4 years and then have U.Plan savings available for each year your child is in college. The minimum purchase amount per year per account is $300.