College education doesn't come cheap these days. However, parents may soon be getting a break.
In 1980, at Texas Tech University, a year's tuition would cost you a little more than $400. Today those costs have risen to nearly $7,000 per academic year.
A new state-wide program, currently still in draft form, will launch September 1, 2008. The Texas Tuition Promise Fund has some slight similarities to what some remember as the Texas Tomorrow Fund, which stopped enrollment in 2003.
Texas State Representative, Carl Isett told NewsChannel 11 people will have different pay rate and finance options under the new program. Local school districts are excited parents will have more financial options.
"Tuition goes up six percent every year, well if you are looking at a newborn, in 18 years it may be totally out of reach if you don't do some planning. By the time that child's ready to go to school you have the funds and you're not strapping your current budget you're guaranteeing that the money's there," said Director of Guidance and Testing for Lubbock Cooper Independent School District Pam Brown.
The Texas Tuition Promise Board will meet August 5th to finalize rules. People could be able to sign up as early as September 1st.
Click here to learn more about the Texas Tuition Promise Fund.
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