Texas Tomorrow Fund
Educational Institution
Tuition Plan Refund Policy Restored...after that change was announced. They now have until Dec. 31 to decide if they want to get back in. The plan was formerly known as the Texas Tomorrow Fund. At the heart of the issue is soaring tuition rates and a fund that's going broke. In this article: All rights reserved, Texas Tomorrow Fund, San Antonio, and Texas |
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The Star-Telegram | November 05, 2009
State board says tuition plan will pay earnings
...part where 'Let's let the Legislature take care of this,' " Shirley said. From 1996 to 2003, state residents could invest in the Texas Tomorrow Fund, later called the Texas Guaranteed Tuition Plan. Through lump sums or installments,...
In this article: Texas Legislature, Jane Nelson, and Flower Mound
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Texas taxpayers could get dinged by tuition plan’s financial woes
...put the state's full faith and credit behind the tuition-payment guarantee. Nowhere in the language setting up what was then called the Texas Tomorrow Fund was it described as anything other than an investment in education. Now some...
In this article: Texas, Jane Nelson, Recession, Tax, Flower Mound, and Fort Worth
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Unpopular policy on prepaid-tuition refunds likely to be reversed
...Republican political leaders do. "I need to look at it closely," he said. From 1996 to 2003, state residents could invest in the Texas Tomorrow Fund, later renamed the Texas Guaranteed Tuition Plan. Through lump sums or installments,...
In this article: Texas, Jane Nelson, Flower Mound, Austin, and Fort Worth
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Houston Chronicle | October 30, 2009
Comptroller wants to return to first pre-paid tuition plan
...state's guaranteed college tuition plan. Ultimately, state lawmakers need to fix the financially ailing program, she said. The Texas Tomorrow Fund, later renamed the Texas Guaranteed Tuition Plan, locks in college tuition rates. But the...
In this article: Susan Combs, Austin, and Houston Chronicle
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Dallas Morning News | October 30, 2009
Comptroller Combs wants Texas tuition program refunds to include earnings
...that eliminated all earnings for contracts that are cancelled. Combs said she will ask the managing board for the program - formerly the Texas Tomorrow Fund - to rescind its new refund policy and restore the former policy that paid earnings...
In this article: Texas, The Dallas Morning News, Attorney General, and Austin
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Legislator asks Texas for answers on tuition plan payout cuts
...for one of the state's prepaid tuition plans. Comptroller Susan Combs has notified about 108,000 people holding active contracts in the Texas Tomorrow Fund that the rules have changed. Tuition and fees at a Texas school still will be...
In this article: Texas and Attorney General
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Parents face decision as change in Texas prepaid college tuition policy looms
...that change the way the Texas Guaranteed Tuition Plan calculates refunds. The plan, which started selling contracts in 1996 as the Texas Tomorrow Fund, gave families the chance to prepay tomorrow's college tuition and required fees at...
In this article: Texas, Texas Legislature, Tax, Jane Nelson, Inflation, and The Dallas Morning News
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Philly.com | October 13, 2009
Experts field debt questions on financial hotline
...Guaranteed Tuition Plan, the state's prepaid college savings plan. To save money, the managing board for the plan - formerly known as the Texas Tomorrow Fund - has adopted a new policy that will restrict future refunds to the actual...
In this article: Texas, The Dallas Morning News, Plano, Dallas, Legal age, Tax, and Texas College
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Texas Tomorrow Fund extends pullout deadline
Parents who signed up for the Texas Tomorrow Fund have been given an extra month to decide whether to withdraw their money or risk losing a possible financial windfall. The fund opened in 1996, backed by the state and allowing parents to...
In this article: Texas and Houston Chronicle
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Cuts to pre-pay Texas college fund anger parents
Parents who were counting on a payout windfall learn they'll be getting less back The Texas Tomorrow Fund, faced with possible bankruptcy, is drastically cutting its payout on canceled contracts, angering many parents who signed up for the...
In this article: Jeff Wentworth, Texas College, Bankruptcy, San Antonio College, and U.S. Senate
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Description from Wikipedia:
The Texas Tomorrow Fund is a prepaid college investment plan operating in Texas.
There are two plans, The Texas Guaranteed Tuition Plan, and Tomorrow’s College Investment Plan. The former is a constitutionally guaranteed trust fund backed by the State of Texas whereas the latter is an investment plan managed by Enterprise Capital Management. Tomorrow’s College Investment Plan is not backed directly by the state, serving as an investment plan for tuition money, as opposed to a prepaid fund.
A recent Texas law was introduced to allow public institutions of higher education to set their own tutition and fees, rather than being forced to charge what the State thought was necessary. The State's guaranteed tuition plan was in jeopardy, for the State had no idea how expensive tuition was going to be a decade from now, and, consequently, had no idea how much to charge applicants. New enrollment for the Texas Guaranteed Tuition Plan was then closed, but the plan could restart soon (as of January 2006) with an annual enrollment period (not certain) or full period.
As an example of how much non-regulated tuition has cost the Texas Tomorrow Fund, a family purchasing 120 credit hours for a child's entrance to a public college in 2004 paid a total of $10,000 -- or about $83 per credit hour. The current payout, however, due to rising tuition costs, is approximately $190 per credit hour (Fall 2006).
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