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Qualified State Tuition Programs

Alabama Higher Education 529 Fund
Description: The Alabama Higher Education 529 Fund helps families save for their children's college education. Four investment options are offered with a minimum investment of $250 and $25 increments thereafter. Account earnings are exempt from federal taxes. Account savings can be used at any qualified college in the nation to pay for tuition, fees, books, supplies, and certain room and board costs.
Information: To request more information, write to the State Treasurer's Office, Alabama College Savings Program, 600 Dexter Avenue, Suite S-106, Montgomery, AL 36104, or call (334) 242-7500.
 
Alabama Prepaid Affordable College Tuition (PACT) Program
Description: The Alabama PACT Program is a state-sponsored program that offers for sale a contract to prepay four years of future college tuition. At the time of purchase, the child must be in the ninth grade or younger. The cost of the contract is based on the age or grade level of the child. Lump sum or monthly payment plans may be selected. PACT does not have a scholarship program.
Information: To request more information, write to the State Treasurer's Office, PACT Program, 100 North Union Street, Suite 660, Montgomery, AL 36130-2530; call (334) 242-7514 or toll free (800) 252-7228; or visit www.treasury.state.al.us.


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