Texas Tuition Promise Fund?

[mandingo]

OK...I wanna start preparing for my boys' college tuitions (to the Forty Acres, of course) and I'm hearing a lot about the Texas Tuition Promise Fund. I looked it up online today & it looks pretty good, but I was wondering what some of you more financially savvy types might think. I'm admittedly pretty clueless when it comes to this stuff.

Is there a better route to take than locking in today's tuition rates? If so, what?

I appreciate any and all serious replies. Thanks!

 

[midtown]

I really prefer the flexibility of a 529 instead.

 

[mandingo]

What's a 529?

 

[AstroVol]

In 100 words or less, a 529 plan is a type of investment/savings account for a young person ("beneficiary") where you (the parent, uncle, etc.) can contribute after-tax dollars into certain mutual funds or money market accounts, and any returns are tax-free as long as the money is spent on qualified expenses.

 

[midtown]

Here is everything you need to know
529 Guru

 

[GatorDave]

Even simpler, a 529 is basically a 401k for college saving, except that it's tax-free on both the contributions and withdrawls.

 

[midtown]

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