AUSTIN Texas families have through July 31 to enroll their newborns at 2022-23 prices in the Texas Tuition Promise Fund, the state’s prepaid college tuition plan. Newborns are children younger than 1 year of age at the time of enrollment.*
“I know what it’s like to be the parent of newborns, and paying for college was not always at the top of my mind,” Texas Comptroller Glenn Hegar said in a news release. “That’s why we’re reminding new parents to take advantage of the opportunity to lock in this year’s rates and lay the foundation for their children’s future educational opportunities.”
With the Texas Tuition Promise Fund, participants can purchase tuition units and lock in the costs of undergraduate resident tuition and schoolwide required fees at Texas public colleges and universities, excluding medical and dental institutions, based on today’s prices.
For additional flexibility, the plan also can be used at Texas medical and dental institutions, Texas private colleges and universities, out-of-state colleges and universities, career schools and registered apprenticeship programs, where tuition is not locked in, and the benefits and payouts would be based on the Transfer Value.**
Enrollment at 2022-23 prices closed on Feb. 28 for children 1 year of age and older. The next annual enrollment period begins on Sept. 1, with new contract prices based on Texas public college tuition and schoolwide required fees costs for the 2023-24 school year.
Complete plan information, including the plan description and agreement, current sales prices, enrollment forms and more, is available at TuitionPromise.org or by calling 800-445-GRAD (4723), Option 5.
The plan’s outreach team also offers free webinars that provide an overview of the plan and discuss the different tuition unit types and payment options, as well as provide information about Texas Match the Promise Foundation matching scholarship opportunities.***
Go to the Texas Tuition Promise Fund website for information about how to register to attend upcoming webinars.
* Residency restrictions apply.
** Transfer Value is limited to the lesser of (1) the costs the tuition unit would cover at a public college or university or (2) the original purchase price of the tuition unit plus or minus the Plan’s net investment earnings or losses on that amount.
*** Residency restrictions, age requirements, eligibility criteria, household income restrictions, and contribution requirements apply. Match the Promise Foundation scholarships can only be used at Texas public colleges and universities, and Transfer Value cannot be utilized.
