Enroll Before Nov. 1 and Save

The Texas Tuition Promise Fund®, the state’s prepaid college tuition plan, turns 15 this month. Texas Comptroller Glenn Hegar reminds families that enrollment in the plan began today and runs through Feb. 29, 2024.

The Texas Tuition Promise Fund offers parents and loved ones the chance to prepay for a child’s future tuition and required schoolwide fees at Texas public colleges and universities at today’s prices, excluding medical and dental schools. To celebrate the plan’s birthday, the $25 application fee to enroll in the plan will be waived for September and October 2023 (enrollment must be postmarked by Oct. 31, 2023).

Participants in the plan purchase “tuition units” that can be used later toward undergraduate resident tuition and required, schoolwide fees at Texas public colleges and universities, excluding medical and dental schools. Prices are based on 2023-24 academic year costs for the state’s public colleges and universities.

Type I tuition units, priced for undergraduate resident tuition and required, schoolwide fees at the most expensive Texas public four-year university or college, cost $164.12 per unit.

Type II tuition units, based on the weighted average cost of undergraduate resident tuition and required, schoolwide fees across Texas public four-year universities and colleges, cost $114.60 per unit.

Type III tuition units, based on the weighted average cost of in-district tuition and required, schoolwide fees across Texas public two-year community colleges, cost $30.71 per unit.

Under the plan, 100 tuition units equal roughly one academic year consisting of 30 semester hours of undergraduate resident tuition and required, schoolwide fees at the Texas public school that most closely matches the tuition unit’s pricing base. Participants can purchase up to 600 Type I tuition units – approximately six academic years – or the dollar equivalent of Type II or III tuition units.

The plan has flexible payment options with each contract, including lump-sum payments, installment payments that include a 6 percent interest charge, or pay-as-you-go payments. The pay-as-you-go payment option enables participants to gradually add more tuition units as the family budget allows based on tuition unit prices at the time of purchase. Enrollment in a pay-as-you-go contract requires purchase of at least one tuition unit of any type; future payments can be as low as $15. An online calculator provides pricing estimates on the type and number of tuition units currently needed for any two- or four-year Texas public college or university.

For more information about this prepaid college tuition plan, including Texas residency requirements and how the plan’s Transfer Value can be used at medical and dental schools, private and out-of-state colleges and universities, career schools and registered apprenticeship programs, go to TuitionPromise.org or call 800-445-GRAD (4723), option 5.

Residency restrictions, age requirements, eligibility criteria, household income restrictions and contribution requirements apply.

The Texas Tuition Promise Fund® (“Plan”) is administered by the Texas Prepaid Higher Education Tuition Board (“Board”). Orion Advisor Solutions, Inc. is the plan manager. 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.

© 2023 Texas Prepaid Higher Education Tuition Board. “Texas Tuition Promise Fund” is a registered service mark of the Texas Prepaid Higher Education Tuition Board. All rights reserved.