Tex. Educ. Code Section 56.007
Exclusion of Assets in Prepaid Tuition Programs and Higher Education Savings Plans

(a)

Notwithstanding any other law, the right of a person to assets held in or the right to receive payments or benefits under any fund or plan established under Subchapter G, H, or I, Chapter 54 (Tuition and Fees), including an interest in a savings trust account, prepaid tuition account, or related matching account, or any school-based account or bond described by Section 28.0024 (School-based Savings Program)(b)(2), may not be considered an asset of the person, or otherwise included in the person’s household income or other financial resources, for purposes of determining the person’s eligibility for a TEXAS grant or any other state-funded student financial assistance.

(b)

The amount of exclusion under Subsection (a) of assets held in or the right to receive payments or benefits under a school-based account or bond described by Section 28.0024 (School-based Savings Program)(b)(2), except a fund or plan established under Subchapter G, H, or I, Chapter 54 (Tuition and Fees), as a school-based account, is limited to the amount of the cost of undergraduate resident tuition and required fees for one academic year consisting of 30 semester credit hours charged by the general academic teaching institution with the highest such tuition and fee costs for the most recent academic year, as determined by the Texas Higher Education Coordinating Board under Section 54.753 (Prepaid Tuition Units: Purchase; Assigned Value; Types; Price).
Added by Acts 2011, 82nd Leg., R.S., Ch. 1186 (H.B. 3708), Sec. 4, eff. June 17, 2011.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1265 (H.B. 3987), Sec. 2, eff. June 20, 2015.

Source: Section 56.007 — Exclusion of Assets in Prepaid Tuition Programs and Higher Education Savings Plans, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­56.­htm#56.­007 (accessed Jun. 5, 2024).

56.001
Short Title 56.002
Declaration of Policy 56.003
Definitions 56.004
Filing Fees in Suits to Collect Delinquent Student Loans 56.006
Employee Trained in Student Financial Assistance Programs for Veterans and Families 56.007
Exclusion of Assets in Prepaid Tuition Programs and Higher Education Savings Plans 56.008
Priority Deadline for Student Financial Assistance 56.009
Eligibility Based on Graduation Under Certain High School Programs 56.011
Resident Undergraduate Student Assistance 56.012
Resident Graduate Student Assistance 56.013
Information Regarding Financial Assistance Funded from Designated Tuition 56.014
Notice to Students Regarding Tuition Set Aside for Financial Assistance 56.031
Short Title 56.032
Purpose 56.033
Source of Program Funding 56.034
Guidelines for Determining Eligibility and Awarding Grants 56.035
Type of Grants to Be Awarded 56.036
Transfer of Grant Funds for Use as Matching Funds 56.037
Priorities in Awarding Matching Funds 56.038
Restrictions and Return of Transferred Funds 56.039
Full Use of Funds 56.051
Emergency Loans 56.052
Eligibility 56.053
Terms 56.054
Source of Program Funding 56.055
Deferred Repayment 56.0065
Student Financial Assistance Programs for Veterans and Families 56.071
Program Name 56.072
Purpose 56.073
Administrative Authority 56.074
Eligible Institution 56.075
Eligible Student 56.076
Eligible Employer 56.077
Adoption and Distribution of Rules 56.078
Funding 56.079
Work-study Student Mentorship Program 56.080
Online List of Work-study Employment Opportunities 56.082
Annual Report 56.091
Establishment 56.0092
Texas B-on-time Student Loan Account 56.092
Eligibility 56.093
Eligible Loans 56.094
Loan Repayment Assistance 56.095
Funding 56.101
Definitions 56.102
Administration of Program 56.103
Rural Veterinarian Incentive Program Committee 56.104
Eligible Veterinary Student or Graduate 56.105
Rural Sponsors 56.106
Financial Support 56.121
Purpose 56.122
Definitions 56.123
Creation 56.124
Administration 56.125
Loans from Fund 56.126
Revenue Bonds 56.127
Refunding Bonds 56.128
Amount of Bonds 56.129
Interest Rate 56.130
Maturity 56.131
Execution of Bonds 56.132
Approval and Registration of Bonds 56.133
Replacement of Bond 56.134
Proceeds 56.135
Limitation of Authority 56.141
Definitions 56.142
Establishment 56.143
Eligible Student 56.144
Amount and Payment of Conditional Grants 56.145
Repayment of Conditional Grant 56.147
Funding 56.161
Definitions 56.162
Establishment 56.163
Eligibility 56.164
Tuition Charged Certain Nonresident Loan Recipients 56.165
Loan Disbursement 56.166
Terms of Loan 56.167
Mentors 56.168
Postdoctoral Fellowship 56.169
Loan Suspension and Forgiveness 56.170
Conditional Guaranty 56.171
Funding 56.221
Definitions 56.222
Purpose 56.223
Eligibility 56.224
Entitlement 56.225
Application of Scholarship 56.226
Payment of State Credit 56.227
Rules 56.241
Definition 56.242
Student Endowment Scholarship and Internship Program 56.243
Election to Participate 56.244
Types of Scholarships 56.245
Eligibility 56.246
Amount of Scholarship or Internship Funding 56.247
Student Endowment Fund 56.301
Definitions 56.302
Program Name 56.303
Administration of Program 56.304
Initial Eligibility for Grant 56.305
Continuing Eligibility and Academic Performance Requirements 56.306
Grant Use 56.307
Grant Amount 56.308
Notification of Program 56.310
Funding 56.311
Legislative Oversight Committee 56.351
Definition 56.352
Purpose of Program 56.353
Eligibility 56.354
Eligible Loans 56.355
Payment of Assistance 56.357
Teach for Texas Alternative Certification Assistance Program 56.358
Funding 56.359
Grants and Service Agreements Entered into Under Former Law 56.401
Definitions 56.402
Program Name 56.403
Administration of Program 56.404
Initial Eligibility for Grant 56.405
Continuing Eligibility and Academic Performance Requirements 56.406
Grant Use 56.407
Grant Amount 56.481
Purpose 56.482
Definitions 56.483
Award of Scholarship 56.484
Initial Eligibility for Scholarship 56.485
Ineligibility for Scholarship 56.486
Amount of Scholarship 56.487
Application Procedure 56.488
Continuing Eligibility for Scholarship 56.489
Satisfactory Academic Progress 56.490
Exception for Hardship or Other Good Cause 56.491
Publication of Program Information 56.492
Reimbursement 56.493
Rules 56.501
Definitions 56.502
Purpose 56.503
Eligible Educator Preparation Programs 56.504
Initial Student Eligibility for Scholarship 56.505
Continuing Student Eligibility and Academic Performance Requirements 56.506
Scholarship Amount 56.507
Scholarship Use 56.508
Administration of Program 56.521
Definitions 56.522
Purpose 56.523
Administration of Program 56.524
Initial Eligibility for Grant 56.525
Continuing Eligibility and Academic Performance Requirements 56.526
Grant Use 56.527
Grant Amount 56.528
Grant Not to Affect Admission 56.0851
Definitions 56.0852
Program Name 56.0853
Purpose 56.0854
Administration 56.0855
Eligible Employer 56.0856
Adoption of Rules 56.0857
Online List of Texas Works Employment Opportunities 56.3042
Initial Qualification of Person on Track to Meet Eligibility Requirements 56.3045
Tolling of Eligibility for Initial Award 56.3071
Effect of Eligibility for Tuition Equalization Grant 56.3075
Health Care Profession Student Grant 56.3575
Administration 56.4075
Health Care Profession Student Grant
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Accessed:
Jun. 5, 2024

§ 56.007’s source at texas​.gov