Texas Tuition Promise Fund Implores Parents to Enroll in College Plan During Open Enrollment Period

"The sooner you start, the more affordable it could be.”Photo byDan DennisonUnsplash

Texas Comptroller Glenn Hegar has announced that enrollment for the Texas Tuition Promise Fund, the state's prepaid college tuition plan, is now open. The enrollment period began on September 1 and will run through February 28, 2025.

The Texas Tuition Promise Fund allows families to prepay for their child's future undergraduate resident tuition and required fees at Texas public colleges and universities at current prices, excluding medical and dental schools. For those who enroll in September and October, the $25 application fee will be waived. Enrollment by mail must be postmarked by October 31, 2024.

Hegar emphasized the importance of early planning for college expenses, stating, “As families all over Texas embark on a new school year, now is the perfect time to think about the Texas Tuition Promise Fund. Planning today is a good way to put your child on a path to a college education. The sooner you start, the more affordable it could be.”

The plan offers three types of tuition units:

• Type I: $164.92 per unit, based on costs at the most expensive Texas public four-year university.
• Type II: $115.75 per unit, based on the average cost across Texas public four-year universities.
• Type III: $31.58 per unit, based on the average cost at Texas public two-year community colleges.

Participants can purchase up to 600 Type I units (approximately six academic years) or the equivalent in Types II or III units. Payment options include lump-sum payments, installment payments with a 6 percent interest charge, or pay-as-you-go payments, with future payments as low as $15.

For further details on the plan, including residency requirements and how the plan’s Transfer Value can be used, visit TuitionPromise.org or call 800-445-GRAD (4723), option 5. The plan's outreach team also offers free webinars, with the next one scheduled for September 11, to provide additional information and discuss various payment options.