July 24, 2024

Texas Prepaid Tuition Plan Newborn Enrollment Deadline Approaches

(AUSTIN) - Texas families have through July 31 to enroll their newborns at 2023-24 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.

"It is never too early for Texas families to consider enrolling their newborns in this plan," Texas Comptroller Glenn Hegar said. "Purchasing tuition units today allows families to 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 schools, based on today's prices.

For additional flexibility, the plan can be used at Texas medical and dental schools, 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.^**

While newborn enrollment is open through July 31, general enrollment at 2023-24 prices closed on Feb. 29 and will not reopen until Sept. 1, with new contract prices based on Texas public college undergraduate resident tuition and schoolwide required fees costs for the 2024-25 school year.

Complete plan information, including the Plan Description and Master 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 offers free webinars that provide an overview of the plan and the different tuition unit types and payment options, as well as 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 a webinar.

* 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.

The Texas Tuition Promise Fund^® ("Plan") is administered by the Texas Prepaid Higher Education Tuition Board ("Board"). Orion Advisor Solutions, Inc. is the manager of the Plan, which is maintained by Catalis Regulatory and Compliance, LLC, who is not affiliated with Orion. The Plan and the Board do not provide legal, financial, or tax advice and you should consult a legal, financial, or tax advisor before participating.

Non-residents of Texas should consider whether their home state, or the beneficiary's home state, offers its residents any tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for participants in that state's plan.

Participation in the Plan does not guarantee admission to or graduation from any college or university. Only the purchaser may direct redemptions, withdrawals, changes in beneficiary, or other contract changes.

You may lose money by participating in the Plan. No part of a contract is a deposit or obligation of, or is guaranteed or insured by, the Board, the state of Texas, or any agency or agent thereof. The contracts have not been registered with or approved by the SEC or any state. Purchasers should carefully consider the risks, fees, charges, and expenses associated with contracts, including Plan termination and reduced Transfer or Refund Value. Transfer Value applies to redemptions at Texas private colleges and universities, out-of-state colleges and universities, medical and dental schools, career schools, and registered apprenticeship programs and is the lesser of: (1) the costs the units would cover at a Texas public college or university; or (2) the original purchase price of the units plus or minus the Plan's net investment earnings or losses on that amount. The Plan Description and Master Agreement contain this and other information about the Plan and may be obtained by visiting TuitionPromise.org or calling 800-445-GRAD (4723), option 5. Purchasers should read the Plan Description and Master Agreement, and all other Plan documents carefully before purchasing a contract.

© 2024 Texas Prepaid Higher Education Tuition Board. "Texas Tuition Promise Fund" is a registered mark of the Texas Prepaid Higher Education Tuition Board. All rights reserved.

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