Texas Insider Report: AUSTIN, Texas — Texas families can lock in today’s cost of undergraduate resident tuition and schoolwide required fees at Texas public colleges and universities by enrolling their children in the tax-advantaged Texas Tuition Promise Fund® before the close of the current general enrollment period on Feb. 29.
“I’m encouraging Texas families and individuals to remember the upcoming deadline to prepay and lock in today’s rates for all or some future tuition at two-year and four-year Texas public colleges and universities,” Texas Comptroller Glenn Hegar said. “The Promise Fund has a range of payment options that gives purchasers the flexibility they need to plan ahead and provide future opportunities for their children, grandchildren and other loved ones."
The Texas Tuition Promise Fund, the state’s prepaid college tuition program, allows participants to prepay undergraduate resident tuition and schoolwide required fees by purchasing tuition units for a four-year degree, two years of community college or just a few semesters at Texas public colleges and universities. For additional flexibility and portability, the plan also is accepted at Texas medical and dental institutions that offer undergraduate degrees. When used at Texas medical and dental institutions, career schools, private Texas colleges or universities or out-of-state institutions, where tuition is not locked in, the benefits and payouts differ.
To enroll children younger than 1 in the program at 2019-20 prices, the deadline extends to July 31. The next general enrollment period begins on Sept. 1, with new contract prices based on Texas public college costs for the 2020-21 academic year.
“Purchasers have an extra day to enroll this year because it’s a leap year,” said Hegar. “But please don’t wait until the last minute. Enroll before the deadline to lock in today’s prices.”
Complete plan information — including residency and other requirements, current prices, enrollment forms and more — is available online at TuitionPromise.org, or by calling 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. The Plan Description and Master Agreement contains this and other information about the Plan and may be obtained by visiting the website or calling 800-445-GRAD (4723). Purchasers should read these documents carefully before purchasing a contract.
Participation in the Texas Tuition Promise Fund does not guarantee admission to, or graduation from, any college or university. Neither a contract nor any return paid with a refund is insured or guaranteed