By Representative Ken Paxton
Texas Comptroller Susan Combs recently released a reminder that families have until February 28 to lock in college tuition and required fees at current rates for our States public colleges. Texas families can prepay for a four-year degree a two-year degree or for just a few classes or semesters.
The States pre-paid college tuition program allows families to prepay for undergraduate tuition and required fees.
The prices based on 200910 academic year costs for the States public colleges are as follows:
- Type I units priced for tuition and required fees for up to the most expensive public four-year school in Texas cost $103.40 per unit.
- Type II units priced at the weighted average of tuition and required fees across all Texas public four-year schools cost $71.75 per unit.
- Type III units priced at the weighted average cost of tuition and required fees across all Texas public two-year schools cost $17.78 per unit.
Under the plan 100 units equal one academic year of tuition and required fees. Families can buy up to six years (600 units) worth of undergraduate education. The plan offers several payment options including lump-sum payments pay-as-you go or the installment payment option which includes an annual interest rate.
While benefits are geared toward Texas public colleges and universities the plan value can also be used toward the cost of private or out-of-state schools. Unused units can be transferred to another qualified beneficiary or refunded.
After February 28 the Texas Tuition Promise fund will close enrollment until September when the program will re-open with new contract prices based on college costs for the 2010-11 academic year.
For information about the prepaid tuition program including a college cost calculator go to
www.TuitionPromise.org or call (800) 445-GRAD (4723).
