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You can check online at texastuitionpromisefund or contact customer service at 800-445-4723, Option #5, for information about the Transfer Value of your account

The Purchaser can transfer the Transfer Value (Transfer Outside of Plan) of your Tuition Units to a qualified 529 college savings plan, such as the Texas College Savings Plan ® https://fastcashloan.net/installment-loans-ut/ , and the proceeds can be used to pay up to $10,000 in amounts paid as principal or interest on qualified student loans of the Beneficiary and/or their sibling. The Transfer Value is limited to the lesser of (1) the costs the Tuition Unit would cover at a Texas public college or university or (2) the original purchase price of the Tuition Unit plus or minus the Plan’s net investment earnings or losses on that amount. Please note that the $10,000 limitation applies on a per-student basis, rather than a per-account basis, with a lifetime limit of up to $10,000 per Beneficiary regardless of whether the funds are distributed from multiple 529 accounts.

What if the student receives a scholarship?

• Keep the unused Tuition Units Tuition UnitsTuition Units are the unit of measure used to purchase prepaid tuition. Generally, one unit represents one percent of the cost of tuition and required fees for 30 semester hours at the school that most closely matches the unit’s pricing structure. for later use.
• Change the Beneficiary BeneficiaryThe person designated by the Purchaser under a Prepaid Tuition Contract as the person for whom undergraduate tuition and required fees will be paid to an Eligible Educational Institution when authorized by the Purchaser. of the contract to a member of Beneficiary’s family member of Beneficiary’s familywho meets the residency requirement. See the Plan Description and Master Agreement for details and consult your tax advisor to determine whether such a change creates a taxable gift or other adverse tax consequences for the Purchaser or Beneficiary. (more…)