Generally, Tuition Units cannot be redeemed to pay directly for these courses. The Purchaser can rollover the Transfer Value Transfer ValueTransfer value is limited to the lesser of: 1) the costs the unit would cover at a Texas public college; or, 2) the price paid for the unit, plus or minus the Plan’s net investment earnings or losses on that amount. Transfer value does not include any state-provided or procured matching contributions or earnings thereon. of the Tuition Units to a 529 Savings Plan Account, such as the Texas College Savings Plan . Then the Purchaser can authorize distributions from the 529 Savings Plan Account to pay for these types of junior college courses. Transfer Value (Transfer Outside of Plan) is limited to the lesser of (1) the costs the Tuition Unit would cover at a public in-state 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.
Can I use the Plan for K-12?
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 , and the proceeds can be used to pay for tuition in connection with enrollment or attendance at an elementary or secondary public, private https://clickcashadvance.com/loans/3000-dollar-payday-loan/ or religious school as determined under applicable state law (up to $10,000 per year per Beneficiary). The Transfer Value (Transfer Outside of Plan) 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, regardless of whether the funds are distributed from multiple 529 accounts. 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.
Can I use my Texas Tuition Promise Fund (TTPF) account to pay for an apprenticeship program?
The SECURE Act passed by Congress in , allows owners of 529 accounts to use those accounts to pay for apprenticeship programs registered and certified with the Secretary of Labor under Section 1 of the National Apprenticeship Act. To find registered and certified apprenticeship programs, please visit .
Purchaser may use a TTPF account to pay tuition and schoolwide required fees required feesRequired fees are only those that must be paid by all students as a condition of enrollment in the college or university. They do not include course-specific fees such as equipment usage or lab fees, or fees related to your major or year of study. for an apprenticeship program. Purchaser should submit a Transfer Value Payment Authorization Form and itemized billing invoice from the apprenticeship program to the Plan. The Transfer Value Transfer ValueTransfer value is limited to the lesser of: 1) the costs the unit would cover at a Texas public college; or, 2) the price paid for the unit, plus or minus the Plan’s net investment earnings or losses on that amount. Transfer value does not include any state-provided or procured matching contributions or earnings thereon. will be paid. Transfer Value (Transfer Outside of Plan) is limited to the lesser of (1) the costs the Tuition Unit would cover at a public in-state 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.
