Details Available Online Now or at September 26 Workshop
On September 1, 2009, the state of Texas will re-open enrollment in the Texas Tuition Promise Fund, which allows Texans to lock in tomorrow's college tuition costs today. The Fund is an important opportunity for parents who want to secure their children's future education in the midst of a struggling economy and rising tuition.
Through the Fund, also referred to as the Texas Tomorrow Fund II, participants can buy tuition units that represent a fixed amount of in-state college tuition and required fees. When a child is ready for college, the type of tuition units participants choose cover all or a portion of the tuition and required fees at all four- or two-year public colleges and universities in Texas. The tuition units can also be used help pay for tuition at all private colleges in Texas and out-of-state institutions. The Fund is a Section 529 savings plan, which protects contributions from taxes. In 2007, State Representatives Mike Villarreal and Geanie Morrison collaborated to pass the legislation establishing the Fund.
For the second year in a row, the enrollment period will last from September 1 until February 28. Enrollment in the state's other 529 college savings plans is open year-round. To learn more about the Fund or the other 529 savings plans, Texans may:
> Call 1-800-445-GRAD;
> Attend Rep. Villarreal's workshop "Planning and Paying for College" September 26 at 6:30 pm at San Antonio College's Nursing Allied Health Complex Building; or