Texas Comptroller of Public Accounts
FOR IMMEDIATE RELEASE
September 14, 2022
(AUSTIN) — Texas Comptroller Glenn Hegar announced today the Texas Match the Promise FoundationSM is awarding matching scholarships worth up to $2,000 and one-time grants worth $3,000 at today’s prices. Applications are now being accepted for 2022-23 awards.
The Foundation is offering these increased scholarship awards to even more students by expanding the fifth through ninth grade range for eligibility to include third and fourth graders.
Match the Promise scholarships encourage families to save for college by supplementing their contributions to the Texas Tuition Promise Fund® (TTPF) – the state’s prepaid college tuition plan. The scholarships are awarded in the form of TTPF tuition units and can be used for undergraduate resident tuition and schoolwide required fees at Texas public colleges and universities, excluding medical and dental institutions.
“I am extremely proud of the positive impact this program has had on the lives of Texas children,” Hegar said. “We’re excited the Foundation approved new matching scholarships and tuition grants that give Texas families even more assistance in preparing for their loved one’s college education.”
Texas students in grades three through nine whose families have a family income of $100,000 or less can apply online for Match the Promise scholarships or download an application form to mail. Eligible applicants may apply between Sept. 1, 2022, and Dec. 31, 2022 (mail-in applications must be postmarked by Dec. 31).* Families may also enroll in TTPF during this time if they haven't already done so.** TTPF’s $25 application fee is being waived for new enrollments during September and October 2022.
The Foundation will match up to $500 of participant tuition unit purchases, with family incomes of $75,000 or less receiving a four-to-one match worth up to $2,000 and family incomes of $75,001 to $100,000 receiving a two-to-one match worth up to $1,000. The 12 applicants who score the highest will receive a one-time grant worth $3,000, which doesn’t have a matching component.
The minimum contribution requirement of the scholarship program has been reduced from $100 to $50, and approved recipients will have until Aug. 31, 2023, to meet this requirement.
Find more information about the scholarships and how to donate to the Foundation at MatchThePromise.org. You can also contact the Foundation via email or at 800-531-5441, ext. 3-7570, for additional information.
* Residency restrictions, age requirements, eligibility criteria, household income restrictions and contribution requirements apply.
** Residency restrictions apply.
The Texas Tuition Promise Fund® (“Fund”) is administered by the Texas Prepaid Higher Education Tuition Board (“Board”). Orion Advisor Solutions, Inc. is the plan manager of the Fund. The Fund and the Board do not provide legal, financial or tax advice and you should consult a legal, financial or tax advisor before participating.
Non-residents of Texas should consider whether their home state, or the beneficiary’s home state, offers its residents any tax or other state benefits such as financial aid, scholarship funds and protection from creditors that are only available for participants in that state’s plan.
Participation in the Fund does not guarantee admission to or graduation from any college or university. Only the purchaser may direct redemptions, withdrawals, changes in beneficiary or other contract changes.
You may lose money by participating in the Fund. No part of a contract is a deposit or obligation of, or is guaranteed or insured by, the Board, the state of Texas, or any agency or agent thereof. The contracts have not been registered with or approved by the U.S. Securities and Exchange Commission (SEC) or any state. Purchasers should carefully consider the risks, fees, charges and expenses associated with contracts, including Fund termination and reduced Transfer or Refund Value. Transfer Value applies to redemptions at Texas private colleges and universities, out-of-state colleges and universities, medical and dental schools, career schools and registered apprenticeship programs and is the lesser of: (1) the costs the units would cover at a Texas public college or university; or (2) the original purchase price of the units plus or minus net investment earnings or losses on that amount. Match the Promise FoundationSM scholarships can only be used at Texas public colleges and universities, and any Transfer Value of a scholarship account cannot be utilized. The Plan Description and Master Agreement contain this and other information about the Fund and may be obtained by visiting TuitionPromise.org or calling 800-445-GRAD (4723), option 5. Purchasers should read the Plan Description and all other Fund documents carefully before purchasing a contract.
© 2022 Texas Prepaid Higher Education Tuition Board. “Texas Tuition Promise Fund” is a registered service mark of the Texas Prepaid Higher Education Tuition Board. All rights reserved.