I did the 529 because it's at least invested if my kid says they want to play guitar or paint for a living

I'd have to pay taxes but I can get that money back

Plus, not limited to instate of she does go to college

I have not. Please describe in detail.

Outdoorag011 said:

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I have not. Please describe in detail.

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Easy now, he's old, and judging by the long, clunky URL that he linked, it's probably new to him.

There is reciprocity with most states and there are equivalency conversion rates you can use for the different situations. We did this program for all 3 of our kids and am thankful we did. We did 529s also but simply wanted to cap tuition rates and know with 100% assurance we had that piece of the puzzle covered no matter what tuition rates did or how the market performed.

OldArmyCT said:

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Ag06Law said:

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Outdoorag011 said:

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I have not. Please describe in detail.

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Easy now, he's old, and judging by the long, clunky URL that he linked, it's probably new to him.

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Looking for financial advice on a message board is about as effective as seeking legal advice on one. Not because you won't get the right answer but you'll get 20 bad ones. As for the long clunky URL, have you ever seen a short reply from a lawyer? Without a bill attached?

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You're right. Texags should probably go ahead and delete this board…

MavsAg said:

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Anyone have one of these? My FIL opened up an account and will make monthly contribution for my newborn son (very kind of him). However, my understanding is the the TTPF is really only beneficial if my son decides to stay in Texas for college. Also, the account is in my FIL's name.

Should I contribute to this fund, open another TTPF fund, or just contribute to a 529? I'd love for my son to go to A&M, but I also don't want him to be forced to go to Tech if he doesn't get in.

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I have bought Texas Tuition Promise Funds for 3 grandchildren (enough for 4 years at A&M each). The cost of higher education has been rising 7+% yearly, so we figure that is a decent return, and helps peace of mind for the parents. If they don't go to college or go out of state, the current cash value can be taken out. Funds also can be transferred to other close family members. The advantage if they stay in state- the hours and fees are paid for- guaranteed. If they go out of state, it's just the cash value.

Bear in mind, TTPF doesn't cover a lot of expenses (room and board, etc), so also having a 529 makes sense.