Be Ready When They Are

Chances are, you have plenty of time to save for your children's or grandchildren's education. After all, it could be 15 years or more until the money is needed. But have you factored in how much college will cost then? Tuition costs are skyrocketing, rising at a rate of approximately six percent a year!

The truth is, time is on your side now. By getting a head start, you will be taking one of the most valuable steps to ensuring a good future for your child, grandchild or other loved one.

The Texas Tomorrow Fund II

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.

Texas College Savings Plan

Texas College Savings Plan,¹ managed by OFI Private Investments Inc. (OFIPI), a subsidiary of OppenheimerFunds Inc., offers 20 different investment portfolios, tax-free growth of your investment and tax-free withdrawals on earnings used for qualified higher education expenses. New applications and investments in the plan are accepted year-round.

Texas Guaranteed Tuition Plan

This plan is currently closed to new enrollment. The Texas Guaranteed Tuition Plan (formerly the Texas Tomorrow Fund) locks in the cost of tomorrow's college tuition and required fees at today's prices. Plan benefits are protected by a constitutional guarantee from the State of Texas.

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The Texas Tomorrow Funds do not guarantee acceptance at any college or university. Students must meet all normal admission requirements.