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Prepaid college tuition plan deadline nears

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The Texas Comptroller’s office reminded Texas families that they have through July 31 to enroll their newborn children in the Texas Tuition Promise Fund, enabling them to pay this year’s academic rates for all or some future tuition and fees at Texas’ public colleges and universities, excluding medical and dental institutions.

“With a pandemic that has slowed much of our economy, I know saving for college may not be at the top of many parents’ minds,” Texas Comptroller Glenn Hegar said in a news release about the fuind . “That’s why we’re reminding new parents to take advantage of the opportunity to lock in this year’s rates before next year’s rates go into effect on Sept. 1.”

Newborns are infants younger than the age of 1 at the time of enrollment

Under the Texas Tuition Promise Fund, the state’s prepaid college tuition program, participants can purchase tuition units and lock in future costs of undergraduate resident tuition and schoolwide required fees at public colleges and universities based on today’s prices.

For additional flexibility, the plan also can be used for undergraduate resident tuition and schoolwide required fees at Texas medical and dental institutions, private Texas colleges and universities, out-of-state colleges and universities and career schools where tuition is not locked in.

The benefits and payouts differ at these schools.

Enrollment at 2019-20 prices closed on Feb. 29 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 costs for the 2020-21 school year.

Complete plan information, current sales prices, enrollment forms and more are available at TuitionPromise.org or by calling 800-445-4723, Option 5.