Texas Tuition Promise Fund® General Enrollment Is Now Open

Texas Comptroller of Public Accounts sent this bulletin at 09/30/2021 04:26 PM CDT

Welcome to another issue of our Texas 529 Update newsletter.

The state’s tax-advantaged prepaid college tuition plan, the Texas Tuition Promise Fund® (TTPF), is now open for enrollment. Whether you are thinking about opening an account or already have one, get the latest news on how the plan can work for you.

The Texas Match the Promise Foundation^SM is also accepting applications for matching scholarships and tuition unit grants from students who are enrolled in TTPF.* Learn more about the scholarships and student eligibility.

Get the details in this issue of our newsletter.

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

This newsletter is not a substitute for the detailed information in the Texas Tuition Promise Fund Plan Description and Master Agreement.

The Texas Tuition Promise Fund® (“Plan”) is administered by the Texas Prepaid Higher Education Tuition Board (“Board”) and Orion Advisor Solutions, Inc. is the plan manager. The Plan and the Board do not provide legal, financial, or tax advice and participants in the Plan should consult a legal, financial, or tax advisor prior to purchasing a contract.

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. Non-residents of Texas should consider whether their home state, or the beneficiary’s home state, offers 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.

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 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 that would be covered by the units at a Texas public college or university; or (2) the original purchase price of the units plus or minus net investment earnings or losses on that amount. The Plan Description and Master Agreement contains this and other information about the Plan and may be obtained by visiting www.texastuitionpromisefund.com or calling 800-445-GRAD (4723), option #5. Purchasers should read all Plan documents carefully before purchasing a contract.

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