Question for Texas Dawgs

[dawg80]

Have you any insight/opinion on the Texas Tuition Promise Fund?

http://www.texastuitionpromisefund.c...t/how-it-works

Any experience with it? Good? Bad?

Thanks in advance.

[Lotsudo]

dawg80 it essentially is a Texas sponsored 529 program. I looked into about 8 to 10 years ago for my now 15 year old daughter and it seemed like a good plan on the surface because you paid "todays" rate for school on an annuity basis in anticipation that like anything else - cost of education will increase. However, at the time the program was considerably different than it is today. As I remember, 8 years ago it could only be applied to Texas public universities/colleges and could not be applied to private schools or out of state schools. If the child dropped/failed out only portions of it would be reimbursed if at all and I just felt there were way too many stipulations. At the time I felt it was a gamble and wanted to have a bit more control of my money with certain liquid options if I needed it. I eventually decided that there were better options especially when my daughter told me that she want to go to TECH. IMO, it's a great plan for those that really don't have the resources or discipline to invest in other options. As it is, my daughter is making the grades and will more than likely get scholarship money. The money that I have for her in CDs, Bonds, Money Market, and savings account can now be used for other things. Just my thoughts!

[dawg80]

Thanks