Frequently Asked Questions

Frequently Asked Questions > Paying for College (7 entries)

I want to help my child or grandchild go to college. What can I do to make sure that funds are available when the time comes?

There are various methods by which you can plan to fund a child’s or grandchild’s college education, but the best way varies according to each person’s financial situation.
What are some of the major issues to take into account?

As a parent or grandparent, several issues regarding funding college should be looked at carefully. These issues include whether or not you want the money you give to be included ...
What does Texas offer for funding college?

Texas provides its residents several vehicles for funding college. Perhaps the best-known method for college savings is the Texas Uniform Transfer to Minors Act (TUTMA) account. However, in the ...
What are the advantages and disadvantages of a TUTMA account?

For gifts made by using a TUTMA, the gift must be made to a person as custodian for the beneficiary and the beneficiary must be under the age of 21 at ...
What are the advantages and disadvantages of the Guaranteed Tuition Plan (formerly known as the Texas Tomorrow Fund)?

The Guaranteed Tuition Plan (GTP) is offered by the State of Texas so that those saving for a child's or grandchild's education can lock in tuition for college at current prices. ...
What is a 529 plan?

A 529 plan is a federal plan (sponsored by individual states) that has become increasingly popular in recent years. It is similar to the Guaranteed Tuition Plan except that the ...
What are some other methods for college saving?

There are various other ways to save for college, including simply saving and investing money yourself. This allows you to keep control and flexibility with the savings. When the ...