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Texas Tuition Fund Is Broke
The state’s deficit-strapped prepaid college tuition fund needs funds, so parents won’t get extra money if they cancel.
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2 Comments 
AUSTIN (September 3, 2009)--Parents who invested in their children's futures through the Texas prepaid college tuition plan will not get extra money if they cancel the deal because the deficit-strapped former Texas Tomorrow Fund needs the money.
The Dallas Morning News reported Thursday that the Texas Guaranteed Tuition Plan has decided to cancel its policy that pays sometimes as much as 200 percent in returns.
The prepaid tuition plan has adopted a policy that will restrict future refunds to the actual amount paid by parents or others who purchased college slots, minus administrative fees.
The updated policy takes effect Nov. 1.
Right now, refunds include the initial amount paid and the difference between the original contract price and a current value based on average tuition rates for state colleges and universities.
Latest Comments
The money is there for the Student's tuition, you just can not get any of it back. And you are correct Mark: Temple Another government foul-up!!!
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And the government wants us to trust them with 20% of our economy with a "public option" health plan?????!!!!!!!!
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