<P> There are two plans: The Texas Guaranteed Tuition Plan and The Texas College Savings Plan (formally the Tomorrow's College Investment Plan). The former is a constitutionally guaranteed trust fund backed by the State of Texas, whereas the latter is an investment plan managed by NorthStar Financial Services Group, LLC . The Texas College Savings Plan is not backed directly by the state; it serves as an investment plan for tuition money, as opposed to a prepaid fund . </P> <P> In 2003 a Texas law was introduced to allow public institutions of higher education to set their own tuition and fees, rather than being forced to charge what the State thought was appropriate . The State's guaranteed tuition plan was in jeopardy, for the State could not effectively predict how expensive tuition was going to be a decade from now and, consequently, could not accurately peg charges for applicants . New enrollment in the Texas Guaranteed Tuition Plan was then closed . </P> <P> As an example of how much non-regulated tuition has cost the Texas Tomorrow Fund, a family purchasing 120 credit hours for a child's entrance to a public college in 2004 paid a total of $10,000--about $83 per credit hour . As of fall 2016, the payout, due to rising tuition costs, was approximately $300 per credit hour . </P> <P> Located in Article 7, Section 19 of the Texas Constitution, the Texas Tomorrow Fund was added November 4, 1997, for the purpose of higher education in Texas . </P>

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