Terry Foundation Scholarships can be used presently at either Texas A&M University at College Station, The University of Texas at Austin, The University of Houston main campus, Texas State University–San Marcos, The University of Texas at Dallas, The University of Texas at San Antonio, and the University of North Texas at Denton. Students receiving scholarships from the Foundation may use their scholarship at any of the participating institutions.

In general, the Terry Scholarship is portable and a Terry Scholar may attend or transfer at any time to another of the participating universities. However, an exception to this general portability rule applies to freshmen Scholars at The University of Houston main campus, Texas State University-San Marcos, The University of Texas at Dallas, The University of Texas at San Antonio, and the University of North Texas at Denton.  Freshmen Scholars at these universities will not be permitted to transfer during their first year to any of the other participating universities.