Texas Comptroller of Public Accounts
FOR IMMEDIATE RELEASE
December 20, 2024
(AUSTIN) — Comptroller Glenn Hegar today reminded Texans that the deadline to apply for Texas Match the Promise Foundation℠ scholarship awards is Dec. 31.
Match the Promise scholarship awards are available for third through ninth graders:
“Eligible families across the state can apply for Match the Promise scholarships, which reflect our belief in the importance of higher education,” Hegar said. “And the prepaid college tuition plan could be a great way to help families save for their children’s higher education. I am honored to be able to provide this opportunity and humbled by the generosity of Texans who contribute to funding these scholarships.”
Applicants can use the online application system at MatchThePromise.org or download an application form to mail.* Families who do not have a TTPF account can find information about establishing one at TuitionPromise.org.**
The Match the Promise Foundation, in cooperation with the Comptroller’s office, offers these competitive matching scholarships to encourage Texas families to save for college. Approved recipients can receive matching scholarships of tuition units worth up to $2,000 at today’s prices, while top-scoring recipients also can receive a one-time grant of tuition units worth $3,000 at today’s prices. The tuition units can be used for undergraduate resident tuition and schoolwide required fees at Texas public colleges and universities, excluding medical and dental schools.
To be considered for a scholarship, students must write a short career essay of 200 to 300 words and meet other requirements. If approved, recipients have until Aug. 31, 2025, to meet the contribution requirement of the scholarship program by contributing a minimum of $50 to the student’s TTPF contract.
The Foundation will match up to $500 of participant tuition unit purchases. Scholarship recipients with family incomes of $75,000 or less will receive a 4-to-1 match worth up to $2,000, and recipients with incomes of $75,001 to $120,000 will receive a 2-to-1 match worth up to $1,000. The 12 applicants who score the highest will each receive a one-time grant worth $3,000, which doesn’t have a matching component.
Match the Promise is funded by individuals who have donated all or a portion of the cash value of property claimed by them in the state’s unclaimed property program, as well as by donations from individuals, businesses and organizations and by state employees through the State Employee Charitable Campaign. The Foundation is a 501(c)(3) federal tax-exempt public charity and is eligible to receive tax-deductible contributions from Texans.
* Eligibility criteria and contribution requirements apply.
** Residency restrictions, age requirements, eligibility criteria, household income restrictions and contribution requirements apply. Mailed applications must be postmarked no later than Dec. 31, 2024.
The Texas Tuition Promise Fund® (“Plan”) is administered by the Texas Prepaid Higher Education Tuition Board (“Board”). Orion Advisor Solutions, Inc. is the manager of the Plan, which is maintained by Catalis Regulatory and Compliance, LLC, who is not affiliated with Orion. The Plan 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 Plan 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 Plan. 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 SEC or any state. Purchasers should carefully consider the risks, fees, charges, and expenses associated with contracts, including Plan 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 the Plan’s net investment earnings or losses on that amount. Texas Match the Promise FoundationSM scholarships can only be used at Texas public colleges and universities, and any Transfer Value of a Match the Promise Foundation scholarship account cannot be utilized. The Plan Description and Master Agreement contain this and other information about the Plan and may be obtained by visiting TuitionPromise.org or calling 800-445-GRAD (4723), option 5. Purchasers should read the Plan Description and Master Agreement, and all other Plan documents carefully before purchasing a contract.
© 2024 Texas Prepaid Higher Education Tuition Board. “Texas Tuition Promise Fund” is a registered mark of the Texas Prepaid Higher Education Tuition Board. All rights reserved.