529 plans and sponsorships

From: Bailey, Karen (ksbailey@ku.edu)
Date: Fri Jul 26 2002 - 20:43:54 EDT

  • Next message: Sherry_Downs@vpf.finance.ohiou.edu: "Re: 529 plans and sponsorships"

    Bursar world -
    I'd appreciate it if you could take a few minutes to answer these questions
    regarding pre-paid tuition plans. Our office is starting to receive a
    number of requests to sponsor (third party contracts) students that belong
    to the state offered tuition plans that are being offered. These are
    pre-paid 529 plans. Most of these plans have very complicated calculations
    that must be performed (by our office) to determine how much we are supposed
    to bill. Up to this point the plans that we have talked to have been
    unwilling to meet our deadlines and are insisting that we sponsor these
    students and send them a bill. "We are the only school that doesn't want to
    do this!" So...in order to find out if we are the "only" school, these are
    the questions.

    1) How is your institution handling these requests?

    2) Do you have guidelines as to what your office will do or do you just do
    whatever is requested?

    3) Since it's a pre-paid plan, do you ever make the student/parent
    responsible for making sure that it is paid on time?

    4) Any additional advice you might have to share.

    Thanks in advance for your assistance,
    Karen Bailey
    Bursar
    University of Kansas
    785-864-5929



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