Open enrollment in the Texas Tuition Promise Fund, the state’s prepaid college tuition program, is open.
The program, which will continue through Feb. 28, offers families the chance to prepay a child’s education at Texas public colleges and universities at today’s prices.
Participants may purchase prepaid “tuition units” that can later be used toward undergraduate resident tuition and schoolwide required fees at Texas public colleges and universities. Prices are based on 2016-17 academic year costs for the state’s public colleges and universities.
Type I units, priced for undergraduate resident tuition and fees at public four-year university, cost $135.22 per unit.
Type II units, based on the weighted average cost of undergraduate resident tuition and fees at public four-year schools, cost $94.66 per unit.
Type III units, priced at the weighted average cost of in-district tuition and fees at public two-year community colleges, cost $23.89 per unit.
Under the plan, 100 units equal roughly one academic year consisting of 30 semester hours of undergraduate resident tuition and fees that most closely matches the unit’s pricing base.
Participants may purchase up to 600 Type I units or the dollar equivalent of Type II or III units.
The plan’s payment options include lump sum payments, installment payments that include 8 percent interest or a pay-as-you-go option that allows participants to gradually add more units when the family budget allows.
Payments can be as low as $15 after an account is established by purchasing at least one unit. Enrollment requires a one-time application fee of $25.
For more information about the program, visit TuitionPromise.org.
Image
Body