Preparing for college

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marcards
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marcards
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Registered: 10-30-2008
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Keep a lookout for Pre-paid plans

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10-18-2007 09:01 PM

I had the good luck in 1995, when my daughter was born, to enroll in the Texas Tomorrow Fund which was a pre-paid 128 hour plan for $9,000. They raised the price the next year to $11,500 and then suspended the program in 2001.

The college savings plans are quite effective but keep an eye out for the state funded pre-paids since the burden of making it profitable falls to them. I believe that as the costs climb, the states will be compelled to offer a pre-paid alternative so jump on it if at all possible.

I've also been a Upromise member since 2001 and have a college savings plan with a little over $6,000 for miscellaneous expenses.

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angelataylor24
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angelataylor24
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Registered: 12-10-2008
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Re: Keep a lookout for Pre-paid plans

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12-10-2008 10:57 AM

You are lucky for getting that opportunity.  I was finishing up high school in 1995. I want to know what you think about the Texas Guaranteed Tuition Plan.  The website is www.TexasTuitionPromiseFund.com.  This locks into the 2008-2009 tuition rates.  Is this program comprarable to the TX Tomorrow Fund that you locked into?  We hav a 529 for our 3 yr old but it is of little value in today's time, so I was looking into this TX Guaranteed Tuition Plan as well.  The enrollment period ends in Feb 2009.  I would appreciate any thoughts.
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