How does the Texas Tuition Promise Fund work for real people? Here are a few sample stories.
It’s all about turning a dream into a plan.
- Eric and Kay Seale’s Profile:
- 40- and 37-year-old parents of two
- Eric works in retail; Kay is a stay-at-home mom
- Children: Brittainy (10), James (3)
The Seale’s Solution
By dedicating $93.56 a month, the Seales could use the Texas Tuition Promise Fund to prepay the average cost1 of tuition and required fees for two years of junior college for both of their children...
Aunt wants to help her niece with college.
- Rosa Guzman and Maria Reyes’ Profile:
- Rosa is a hospital administrator.
- Niece: Maria (12) – Future Nurse
Rosa Guzman’s Solution
Rosa could use the Texas Tuition Promise Fund to prepay the average cost1 of tuition and required fees for two years of junior college. Using an installment plan, Rosa could make monthly payments...
You can start a bright future today. Promise.
- Kevin and Tanya Gallinger’s Profile:
- 36-and 35-year-old parents of one
- Kevin is a school bus driver; Tanya is a stay-at-home mom
- Child: Timothy (11) – Future Master Mechanic
The Gallinger’s Solution
The Gallinger family could make monthly payments of $29.59 until Timothy graduates from high school to pay the average cost1 of tuition and required fees for his first year of diesel technology school...
A plan that will grow right along with them.
- David and Kathy Morales’ Profile:
- 39- and 37-year-old parents of three
- David is employed in sales and marketing. Kathy works part time.
- Children – Joseph (10), Teresa (6), Mary (3)
The Morales’ Solution
The Moraleses know paying for college for three children will not be easy and that they need to start saving now. The Texas Tuition Promise Fund offers them flexibility to spread out their payments as their budget permits...
1Each year, the Plan looks at the average cost of a year’s tuition and required fees at all Texas public colleges and universities. The average is then adjusted based on attendance at each school to determine a weighted average tuition.
The Texas Tuition Promise FundSM is established and maintained by the Texas Prepaid Higher Education Tuition Board. OFI Private Investments Inc., a subsidiary of OppenheimerFunds, Inc., is the plan manager. Some states offer favorable tax treatment to their residents only if they invest in the state’s own 529 plan. Non-residents of Texas should consider whether their state offers its residents a 529 plan with alternative tax advantages, and should consult their tax advisor. 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 OFI Private Investments 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. The Plan Description and Master Agreement contain this and other information about the Plan, and may be obtained by visiting www.texastuitionpromisefund.com or calling 1.800.445.GRAD (4723). Purchasers should read these documents carefully before purchasing a Contract.
“Texas Tuition Promise Fund” is a service mark (registration pending) of the Texas Prepaid Higher Education Tuition Board. All rights reserved.
This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or for use to avoid penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.
