August 19, 2008

From the desk of Rep. Allen Vaught

Financing College Education

Over the weekend, Texas families saved millions during the sales tax holiday as they prepared to send their kids back to school. Whether seeing your children off to kindergarten or college, the cost of higher education is daunting to many.

Tuition is on the rise and unfortunately for today’s coeds and their families, finding the money to cover these costs is becoming increasingly difficult. In the last year, many lenders have gotten out of the student loan business. In the current economy families are facing other financial hardships that may seem to widen the gap between young Texans and the college dream. In order to make these dreams a reality, I encourage all families considering these challenges to educate themselves about state resources that are available to be tapped.

The newest of these is the Texas Tuition Promise Fund, which goes into effect this September. Under this option, Texans can choose from many different prepaid plans while hedging against rising tuition costs. These prepaid plans are designed for use at every type of higher education institution. To receive more information about this new addition to our state’s college funding options, visit the Web site and fill out the request form.

At, parents can calculate, based on their child’s current age and the type of institution they anticipate their child will attend, how much college will cost when the time comes to move your little one into the dormitories. You can also look at age based portfolio investment options, and enroll in a program that best suits your needs, and will ensure the security of your child’s future.

No matter your child’s age, I recommend that all parents plan for the future and consider the options that are available to you. For more information please visit the Web sites above or contact my district office at (214) 370-8305.