Texas Prepaid Tuition Program Deadline Is July 31st
Texas Tuition Promise Fund is a prepaid tuition plan that opened September 2008. It allows individuals to lock in the cost of undergraduate resident college tuition and required fees at today’s college prices. With the Texas Tuition Promise Fund, an individual buys tuition units that represent a fixed portion of resident undergraduate tuition and required fees (1 unit = 1 percent of a 30 semester-hour academic year). Participants must purchase a minimum of one unit to establish an account. Thereafter, contributions can be as little as $15 per payment.
The Board invests payments received from plan participants and uses the investment earnings and purchaser payments to pay college tuition and required fees for plan beneficiaries in accordance with their plan benefits.
The deadline is July 31 for Texas families to enroll their newborns in the Texas Tuition Promise Fund® and prepay for all or some future tuition and school-wide required fees at Texas public colleges and universities. Newborns are children younger than one year at the time of enrollment.
Under the Texas Tuition Promise Fund, the state’s prepaid college tuition program, participants can purchase tuition units and lock in costs based on today’s prices.
“For Texas families concerned about rising tuition costs, now is a good time to start planning early and consider enrolling your newborn in this program,” Texas Comptroller Glenn Hegar said.
Enrollment at 2015-16 prices closed Feb. 29 for children older than one. The next annual enrollment period begins on Sept. 1 and is based on Texas public college and university tuition and school-wide required fees for the 2016-17 school year.
Complete plan information, including plan description and agreement, current prices, enrollment forms and more is available online at Tuition Promise , or by calling 1-800-445-GRAD (4723), Option 5.
Purchasers should carefully consider the risks, administrative fees, service and other charges and expenses associated with the contracts, including plan termination and decreased transfer or refund value. Purchasers should read these documents carefully before purchasing a contract. Participation in the plan does not guarantee admission to any college or university.