The Texas comptroller's office has selected Enterprise Funds to manage its new 529 college savings program. Plan administrator Sheila Clancy confirmed that Enterprise Funds was the finalist selected to run the program and that the state remains in contract negotiations to run the program.

The program will be the first administred by Enterprise. The fund manager referred questions about the program to the state of Texas.

Clancy that because no contract had been signed few of the program details have been worked out. "There are very few details known at this point at all," she told the MutualFundWire.com.

The state plans to launch the program this summer, but the exact timing of the launch is dependant on details of the marketing campaign that will be worked out with the program administrator.

Texas currently offers a pre-paid tuition college savings program. The same board will oversee both programs. The state does not currently offer any 529 college savings program.  

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