No. You can either select payment by direct deposit, check, money order or payroll deduction. If you select an Installment Plan Installment PlanThis payment plan allows you to purchase a specific number of tuition units in monthly or annual installments at the price in effect, including the charge of an interest component, at the time the Purchaser enrolls in the installment plan. Installment plans are available for 5 or 10 years, or they may be calculated based on the number of years until the Beneficiary’s projected high school graduation date. to make payments by check, you will receive a coupon book, prior to the May 1 deadline, which contains payment slips to use each time you make a payment. If you select the Pay-As-You-Go Plan Pay-As-You-Go PlanThis payment plan allows you to purchase as many or as few tuition units as you like on a schedule that you choose. Note, tuition units purchased using the Pay-As-You-Go Plan can cost more in the future, because tuition unit prices are adjusted annually. option and opt to make payments by check, you will not receive a coupon book. Instead, you will receive a payment voucher prior to the first payment due date of May 1, and each time you make a payment, you will receive a new payment voucher with your payment confirmation.
No. The Texas Guaranteed Tuition Plan, also known as the Texas Tomorrow Fund, was offered as the original Texas prepaid plan opened in 1995.
Is the Texas Tuition Promise Fund guaranteed by the state of Texas?
While the Texas Tuition Promise Fund is not constitutionally guaranteed, Texas law requires all Texas two-year and four-year public colleges and universities to accept Texas Tuition Promise Fund Tuition Units as payment for the applicable portion of tuition and schoolwide required fees. required feesRequired fees are only those that must be paid by all students as a condition of enrollment in the college or university. They do not include course-specific fees such as equipment usage or lab fees, or fees related to your major or year of study. This law does not apply to medical or dental institutions, private or out-of-state colleges or universities, career schools or registered apprenticeship programs, but the Transfer Value Transfer ValueTransfer value is limited to the lesser of: 1) the costs the unit would cover at a Texas public college; or, 2) the price paid for the unit, plus or minus the Plan’s net investment earnings or losses on that amount. Transfer value does not include any state-provided or procured matching contributions or earnings thereon. of Tuition Units may be applied toward costs at those schools or apprenticeship programs. The Transfer Value of the units being redeemed will be the lesser of: 1) the costs the Tuition Units would pay at a public in-state 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.
The Contracts are not deposits or other obligations of any depository institution. Neither a Contract nor any return paid with a refund is insured or guaranteed by the FDIC , the state of Texas, the Texas Prepaid Higher Education Tuition Board, any other state or federal governmental agency or Orion Advisor Solutions, Inc. or its affiliates. The Contracts have not been registered with the U.S. Securities and Exchange Commission or with any state.
Purchasers should carefully consider the risks, administrative fees, service and other charges and expenses associated with the Contracts, including plan termination and decreased transfer or refund value.