Contract Changes

Q: May I change the type of plan or payment option once I've contracted for a particular plan?

A: New account owners have until March 15, 2009 to make any contract changes. After that time, they must cancel their contract and purchase a new contract during an open enrollment period. Once the beneficiary enrolls in college, the plan will automatically convert the tuition value of a university contract to the value of the community college contract for each semester the beneficiary enrolls in a community college. Similarly, the plan will automatically convert the tuition value of a community college contract to the value of the university contract for each semester the beneficiary enrolls in a state university. These conversions also apply to a corresponding local fee contract purchased in conjunction with a tuition contract.

Q: May I use my four-year university plan benefits at a community college?

A: Yes. The plan will automatically convert the full tuition value of the four-year university contract to the value of the community college contract for each semester the beneficiary enrolls in a community college. This conversion also applies to a local fee contract purchased in conjunction with a tuition contract.

Q: May I utilize my two-year community college or "2 + 2" plan at a four-year university?

A: Yes. The plan will automatically convert the full tuition value of the two-year community college or "2 + 2" plan for each semester the beneficiary enrolls in a four-year institution. This conversion also applies to a local fee contract purchased in conjunction with a tuition contract. Because community college credits cost less than university credits, the student will be responsible for any remaining university credit hours needed to graduate.

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