| (a) For prepaid tuition contracts issued under the junior college
plan, junior/senior college plan, or senior college plan, the tuition and
required fees paid pursuant to such prepaid tuition contracts shall be paid
in accordance with the rates charged to Texas residents.
(b) For prepaid tuition contracts issued under the private
college plan, tuition and required fees paid pursuant to the prepaid tuition
contract shall be limited to the estimated average private tuition and required
fees as determined by the board on an annual basis.
(c) For prepaid tuition contracts issued under the senior college,
junior/senior college, or junior college plan, where tuition and required
fee payments are made to Texas higher education institutions not of the plan
selected, payments to the institution shall be based on a calculation of the
average tuition rate of the plan selected.
(d) Any prepaid tuition contract purchased under this program
may be applied to the payment of tuition and required fees at a proprietary
school meeting the requirements of the United States Internal Revenue Code, §529(e)(5),
as an "eligible education institution," as if the proprietary school were
an institution of higher education or private or independent institution of
higher education. On the purchaser's request, the board shall apply any existing
amount of prepaid tuition contract benefits, as determined by the average
rate of tuition and fees under the contract purchased, to the payment of tuition
and required fees at such a proprietary school. The board is not responsible
for the payment of tuition and required fees at the proprietary school in
excess of that amount.
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| Source Note: The provisions of this §7.51 adopted to be effective January 8, 1996, 20 TexReg 11124; amended to be effective December 3, 1997, 22 TexReg 11716; amended to be effective January 3, 1999, 23 TexReg 13103; amended to be effective February 16, 2000, 25 TexReg 1123 |
