Looking for some info on the Texas Tuition Promise fund from those that have or are using it:

I have been going through their website and having a hard time finding answers to two key questions:

1) Can you transfer credits to another child?

2) What happens to your credits if they are not all use?  Can I get my money back?

I am also looking for general opinions on those who have experiences in this realm.

Ofcourse I find the answer right after I post this:

What can I do if there are units left over?
If you have accumulated more tuition units than you need to cover tuition and required fees, you can:
Change the Beneficiary of your contract to a Member of the Current Beneficiary’s Family. See the Plan Description for details and consult your tax advisor to determine whether such a change creates a taxable gift or other adverse tax consequences for you or your Beneficiary.
Transfer the Transfer Value of unused tuition units to a 529 college savings plan, such as the Texas College Savings Plan® so that the money can be used for graduate school tuition, fees, books or room and board. Transfer Value is limited to the lesser of a) the costs the Tuition Units would pay to a public in-state college or university, or b) the original purchase price of the Tuition Unit plus or minus the Plan’s net investment earnings or losses on that amount.
Request a Refund of unused tuition units. See Cancellations and Refunds for information on how refunds are calculated. Federal income taxes and an additional 10% federal tax on the earnings as well as any state or local taxes may apply.


Anyway, I am still looking for opinions on this and other 529 type plans.

Are you a veteran?  If so, you are probably eligible for the Hazlewood Act.  You or your kids can go to any state school completely tuition and fee free up to 150 credit hours.  My daughter goes to Texas A&M University completely free except for room,board, and books.  She will graduate with a Masters in Accounting in another year and I have paid zero.  Great deal that many veterans still don't know about.

I'm not a veteran and that's the first I've ever heard of that. Damn, that's an awesome benefit!

I thought you had to have 100% disability to have a spouse or child use the Hazelwood benefits.

spouse yes.
child, not anymore.
http://www.tvc.texas.gov/Hazlewood-Act.aspx

Yes it is. I am currently going through school using my federal Post 9/11 GI Bill, and will have my bachelors done without ever touching my Hazelwood from the state, so I'll be able to pass it down to my two kids. Wham, 50% of each kid's college tuition knocked out if they both intend on going the college route.

It's surprising how many Texans I met on active duty that did not know about Hazelwood.

I did not know about it until after I started serving. My girlfriend in college had a dad who was retired Army. He had no idea about it until I mentioned it to him one weekend. He was ecstatic because he had 3 kids either in or about to enter college.

Thanks brothers!