Posted in [News from Mike], [Recent Posts]

Press Advisory

February 10, 2010                                                       

Contact: Gina Amatangelo, 

210-734-8937 (o), 210-386-0934 (c),

gina@leaderslisten.org

"Texas Tuition Promise Fund" Enrollment Ends February 28

Rep. Villarreal Urges Parents to Consider College Savings Options

On February 28, 2010, the state of Texas will close the current enrollment period for the "Texas Tuition Promise Fund," which allows Texans to lock in tomorrow's college tuition costs today.  In the midst of a struggling economy and rising tuition, the Fund is an important opportunity for parents who want to secure their children's future education.

Through the Fund, also referred to as the "Texas Tomorrow Fund II," participants can buy tuition units that represent a fixed amount of in-state college tuition and required fees. When a student is ready for college, the type of tuition units participants choose covers all or a portion of the tuition and required fees at all four- or two-year public colleges and universities in Texas. The tuition units can also be used help pay for tuition at all private colleges in Texas and out-of-state institutions.  The Fund is a "Section 529" savings plan, which protects earnings from federal taxes.  In 2007, State Representative Mike Villarreal collaborated with Representative Geanie Morrison to pass the legislation establishing the Fund.

"Parents know that a college education can open up so many doors for their children," said Rep. Villarreal, the first in his family to graduate from college.  "Our state and our universities must work harder to make college affordable, but parents can also play a key role by starting a college savings plan for their children.  I urge parents to research their options and see if one of our state college savings options meets their needs."

The next enrollment period will run from September 2010 until February 2011.  The enrollment period for newborns is through the end of July of each year.  Enrollment in the state's other 529 college savings plan, the "Texas College Savings Plan" is open year-round. 

To learn more about these funds, Texans may visit www.texastomorrowfunds.org or call 1-800-445-GRAD.

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