Comptroller's ReportNothing is more important than education. As the state’s education watchdog, I have worked hard to put higher education within reach for our most precious resource—our children.
Under the Texas Tomorrow Funds, Texans have the Texas Guaranteed Tuition Plan—the state’s highly successful prepaid college tuition plan, formerly known as the Texas Tomorrow Fund—and Tomorrow’s College Investment Plan, which I added in September.
10 Principles for Texas
in the 21st Century
- Develop a better-educated workforce
- Direct more of every education dollar into the classroom
- Raise the bar on student performance
- Cut taxes in Texas
- Introduce competition into Texas government
- Improve government performance and accountability
- Reduce the size of government
- Bring common sense to regulations
- Use technology to cut costs and increase quality
- Return control to communities and individuals
The Texas Guaranteed Tuition Plan allows families to lock in tomorrow’s college tuition and required fees at today’s prices. What’s more, the contracts are flexible, affordable, portable and transferable—you can use them in-state or out-of-state, and you can transfer benefits to a family member. And the benefits are protected by a constitutional guarantee from the State of Texas. Main Street Texans don’t have to worry about Wall Street volatility.
Tomorrow’s College Investment Plan is a state-sponsored program that allows families to prudently invest college savings to earn a potentially greater return than a traditional savings account. It offers Texans the opportunity to invest in their children’s future and also invest in Texas. Unlike other savings and investment programs, the earnings are tax-free when used to pay qualified college expenses and other associated costs, such as room and board, books, supplies and equipment. Families can open accounts similar to a 401(k), and as long as the funds are used for post-secondary education expenses, the earnings on the money in the accounts are tax-free.
With the Texas Tomorrow Funds, you get one program with two great choices. And you’re not only locking in your child’s college tuition and required fees; you’re also buying peace of mind. The current enrollment period for the Texas Guaranteed Tuition Plan opened November 11, 2002, and lasts until May 23, 2003. Enrollment for the Tomorrow’s College Investment Plan is year-round, and investors can open an account directly from the state or through their own financial advisors. For more information on either plan, please call 1-800-445-GRAD or visit www.texastomorrowfunds.org.Sincerely,
Carole Keeton Rylander