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Wednesday, October 15, 1997

Tuition plan opens new enrollment period

By MICHAEL HOLMES / Associated Press Writer

AUSTIN (AP) -- For the third time, the state is opening its program to allow Texas parents to pay their children's college tuition in advance -- way in advance.

State Comptroller John Sharp on Tuesday said the latest enrollment period will run through April 1, 1998.

With the Texas Tomorrow Fund, a prepaid contract may be purchased for children as young as newborns, locking in tuition and required fees for roughly what it would cost to attend school today.

Contracts are available for four-year public universities, community colleges or a "two-plus-two" contract for two years at each. Contracts also may be purchased to cover private college tuition.

"The Texas Tomorrow Fund is the best school bargain this year," Sharp said.

"For as little as $92 a month, until that child graduates from high school, the parents of a newborn Texan can sign their baby up for four years of tuition and required fees at a public university."

This year, the cost for a newborn is $10,904. That cost rises to $12,403 for a high school senior.

The rate is about 12 percent higher than last year, reflecting the rising cost of tuition and fees, officials said.

The program has conducted two sign-ups since its creation by the Legislature. Sharp's office said more than 65,000 families have taken advantage of the pay-now, learn-later contracts.

"Since our second enrollment period closed last spring, thousands of parents and grandparents have contacted us to see about enrolling their children or grandchildren in the program," Sharp said.

"They will be receiving information pamphlets and application forms within the next few weeks -- in plenty of time for the next enrollment deadline."

According to the comptroller's office, nearly 83 percent of the prepaid contracts purchased so far are for four-year colleges and universities, which cover up to 128 hours of academic tuition.

Another 10 percent were for the junior-senior college plan, and 5 percent were for two-year junior and technical colleges, which covers up to 64 hours of tuition. Two percent of the contracts were for private college tuition.

The current academic semester marks the second year that about 500 college freshmen and sophomores are using Texas Tomorrow Fund contracts to pay for school. The top three public university choices are the University of Texas-Austin, Texas A&M at College Station and Texas Tech in Lubbock.

According to the comptroller's office, some sample costs under the new contacts will be:

-- Newborn: four-year college, $10,904; two-plus-two, $8,289; community college, $3,163; private university, $35,840.

-- Kindergartner: four-year college, $11,382; two-plus-two, $8,620; community college, $3,223; private university, $37,524.

-- Seventh grader: four-year college, $11,967; two-plus-two, $9,024; community college, $3,293; private university, $39,308.

-- High school senior: four-year college, $12,403; two-plus-two, $9,325; community college, $3,344; private university, $40,294.

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Editor's Note: Families interested in learning more about the Texas Tomorrow Fund can call 1-800-445-GRAD, or via computer bulletin board at 1-800-227-8393 and on the Internet at http://www.window.state.tx.us/comptrol/ttf /ttfmain.html Send a Letter to the Editor about This Story | Start or Join A Discussion about This Story
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