AL Treasurer

Alabama PACT Board Approves 4% Benefit Increase for Fall Semester

The Alabama Prepaid Affordable College Tuition (PACT) Board approved a 4% increase to tuition and fee benefit payments at its May 14, 2024 meeting. The increase, effective fall semester 2024, represents the tenth consecutive benefit increase since the 2011 Class Action Settlement Agreement. Under the agreement, PACT pays the lesser of current school tuition/fees or adjusted 2010 rates.

CollegeCounts 529 Awards $1.2M to 323 Alabama Students

State Treasurer Young Boozer announced that the CollegeCounts 529 Scholarship Program awarded $1.2 million in college scholarships to 323 Alabama students across 63 counties. The program offers $4,000 awards for four-year college enrollees and $2,000 for two-year enrollees attending Alabama institutions. No taxpayer funds are used—the program has awarded $11.5 million to over 3,000 students since 2013.

CollegeCounts 529 Giveaway, 29 Winners, $529 Each

The Alabama State Treasurer's Office announces the twelfth annual CollegeCounts 529 Day Giveaway. Twenty-nine winners will receive $529 contributions to new or existing CollegeCounts 529 accounts for babies born in Alabama between May 29, 2023, and May 29, 2024. Entries open May 29, 2024 and close July 15, 2024. CollegeCounts, Alabama's qualified tuition program under Section 529 of the IRC, allows state income tax deductions up to $10,000 for married couples ($5,000 for single filers).

PACT Board Approves 4% Tuition Benefit Increase Effective Fall 2025

The PACT Board of Directors approved a 4% increase to the tuition and fee benefit rate paid by the Alabama Prepaid Affordable College Tuition (PACT) Program at its May 20, 2025 meeting. This marks the eleventh consecutive benefit increase since the 2011 Class Action Settlement Agreement and will take effect for fall semester 2025. The PACT Program, which originally sold 76,251 contracts dating back to 1990, now maintains less than 4,500 active contracts.

Alabama 529 College Savings Giveaway, 29 Winners, $529 Each

The Alabama State Treasurer's Office announced the 13th annual CollegeCounts 529 college savings giveaway in honor of 5/29 Day (May 29). CollegeCounts will randomly select 29 winners to receive $529 contributions to existing or new CollegeCounts accounts for babies born in Alabama between May 29, 2024 and May 29, 2025. Entries must be submitted by July 15, 2025.