Texas prepaid college tuition enrollment open
AUSTIN, TX (KTRK) -- Open enrollment in the Texas Tuition Promise Fund, the state's prepaid college tuition program, began on September 1 and runs through Feb. 28, 2015.
The fund offers parents the chance to prepay for their child's education at Texas public colleges and universities at today's prices.
Families in the Texas Tuition Promise Fund purchase prepaid "tuition units" that can later be used toward undergraduate tuition and required fees at schools ranging from Texas public community colleges to four-year, in-state universities. The prices are based on 2014-15 academic year costs for the state's public colleges.
Under the plan, 100 units equal roughly one academic year consisting of 30 semester hours of tuition and school-wide required fees at the Texas public school that most closely matches the pricing base. Families can prepay for up to six years (600 Type I units or the equivalent amount of Type II and III units) of college.
The plan's payment options include lump sum payments, installment payments that include eight percent interest or a pay-as-you go plan that allows parents to gradually add more units when the family budget allows. Payments can be as low as $15 after an account is established by paying a one-time fee of $25 and purchasing at least one unit.
The Texas Tuition Promise Fund is entering its seventh year. For complete information about enrolling in the prepaid college tuition program, including a college cost calculator, go to www.TuitionPromise.org or call 1-800-445-GRAD (4723), Option 5.
