The Texas Tomorrow Fund II
A scaled-back version of the Texas Tomorrow Fund – the state's prepaid college tuition program that has been closed to newcomers for four years – would be created in the fall of 2008 under legislation approved Thursday by the Senate.The new program, called Texas Tomorrow Fund II, would again allow parents to purchase a future college education for their children at today's prices – though the costs would be considerably higher and the state would no longer guarantee the tuition contracts.
The 80th Texas Legislature recently passed House Bill 3900 that authorizes a new prepaid tuition plan, the Tomorrow Fund II. The Tomorrow Fund II will offer prepaid tuition contracts starting September 1, 2008 and will be a separate program from the existing Texas Guaranteed Tuition Program. If you want to start saving for college expenses sooner, you should consider Texas College Savings Plan, which is a qualified 529 savings plan offered through the state.
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