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Texas Education Code

§ 54.619 — PREPAID HIGHER EDUCATION TUITION PROGRAM

ED § 54.619Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 54. TUITION AND FEES · Art. F. PREPAID HIGHER EDUCATION TUITION PROGRAM

Statute text

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(a)Under the program, a purchaser may enter into a prepaid tuition contract with the board under which the purchaser agrees to prepay the tuition and required fees for a beneficiary to attend an institution of higher education or private or independent institution of higher education.
(b)The board shall deposit the money paid under a prepaid tuition contract in the fund, invest the money and credit the income earned to the fund, and apply money in the fund to the tuition and required fees of the institution of higher education or private or independent institution of higher education in which the beneficiary enrolls as provided by the prepaid tuition contract.
(c)If the beneficiary of a plan described by Section 54.623, 54.624, or 54.625 enrolls in a private or independent institution of higher education, the board shall pay the institution the tuition and required fees the board would have paid had the beneficiary enrolled in an institution of higher education covered by the plan selected in the prepaid tuition contract. The beneficiary is responsible for paying the private or independent institution of higher education the amount by which the tuition and required fees of the institution exceed the tuition and required fees paid by the board. (c-1) If the beneficiary of a prepaid tuition contract entered into after December 31, 2003, under Section 54.623, 54.624, or 54.625 enrolls in an institution of higher education, the board:
(1)shall pay to the institution the tuition and required fees of the institution; and
(2)may pay to the purchaser all or part of any amount paid or accrued under the contract that exceeds the tuition and required fees of the institution if the board determines that it may do so in a manner consistent with the actuarial soundness of the program.
(d)If the beneficiary of a plan described by Section 54.6251 enrolls in an institution of higher education, the board shall pay:
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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 1054 (H.B. 2173), Sec. 8, eff. June 15, 2007. Acts 2021, 87th Leg., R.S., Ch. 599 (S.B. 1094), Sec. 2, eff. September 1, 2021.