IMPORTANT NOTE: The 78th Legislature (Regular Session) in House Bill 2425 amended the Texas Education Code, Section 54.624, which governs a prepaid tuition contract for a beneficiary who is enrolled at a Texas public senior college or university.
Under the amended Section 54.624, when the beneficiary of a senior college plan prepaid tuition contract enrolls in a public senior college or university, the university shall accept as payment in full the beneficiary's tuition and required fees the lesser of: (1) the amount of tuition and required fees charged by the institution, or (2) an amount paid by the Board under the contract equal to the weighted average amount of tuition and required fees of all public senior colleges and universities for that semester or other academic period as determined by the Board.
The university has set up an exemption to offset tuition and required fee costs that are billed in excess of the state-weighted average amount. Amounts waived are reported in box 2 of the IRS Form 1098-T.
Please go to the Texas Guaranteed Tuition Plan website for current rate information and other necessary information.
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