Comptroller Glenn Hegar announced today the Texas College Savings Plan (Plan)®, the state’s direct-sold college savings plan, is lowering fees and enhancing its investment lineup. These changes were effective Dec. 13:

The current Blended and Index Age-based Portfolios will be streamlined into a single set of age-based Portfolios;

The Age-based Option will be expanded from six to 10 Age-based Portfolios to provide a smoother investment glide path;

The Static and Individual Fund Portfolios will be reorganized as Risk-based and Individual Asset Class Portfolios; and

New portfolios will be added within the Risk-based and Individual Asset Class Portfolios to offer more variety with the investment lineup.

The Plan also is reducing the program management fee and state administrative fee and using investments with lower estimated underlying investment expenses, resulting in significantly lower estimated total plan fees.

Please refer to the Transition Guide and updated Plan Description and Savings Trust Agreement on our website at TexasCollegeSavings.com for more detailed information about the changes.

The Plan has $757 million in total assets, with an average account size of approximately $20,227 (as of Sept. 30, 2021).

The Texas College Savings Plan is administered by the Texas Prepaid Higher Education Tuition Board, with assistance from the Comptroller’s office.

Texas College Savings Plan account withdrawals, including any earnings, are not subject to federal income tax if used for qualified education expenses.

For more information on the Plan, including investment options, fees and opening an account, call 844-445-4733, Option #3 or visit TexasCollegeSavings.com.

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