Document Type

Press Release

Publication Date



Lawrence University is among a group of colleges that was collectively cited in the December 15 issue of BusinessWeek for launching what the magazine hails as one of the best new products of 2003.

The Independent 529 Plan, a tax-advantaged plan for families to save for tuition at more than 200 participating private colleges, was one of 30 new products highlighted by the publication in its annual list of new and innovative products.

Lawrence was among an original consortium of 50 institutions involved in designing the financial plan, which was launched in September 2003 after winning approval from both Congress and the IRS.

“In spite of the widespread availability of financial aid, families were growing increasingly uneasy about their ability to finance a high-quality education at Lawrence or one of the other top colleges in the nation, so we felt this program would allow them to secure today’s tuition prices for their children’s future educations,” said Steve Syverson, dean of admissions and financial aid at Lawrence. “The program takes a lot of the guesswork out of planning for financing a top-notch private education.

“We are naturally delighted that BusinessWeek has chosen to include this program on its Best of 2003 list,” Syverson added. “Obviously they join us in seeing this as a real winner of a concept.”