Nothing in this chapter or in any prepaid tuition contract or savings trust agreement entered into pursuant to this chapter shall be construed as a promise or guarantee:

1. By the board or the Commonwealth of any admission to, continued enrollment at, or graduation from any public institution of higher education;

2. That the beneficiary’s cost of tuition at an institution of higher education will be covered in full by the proceeds of the beneficiary’s prepaid tuition contract, provided, however, that a prepaid tuition contract will cover that portion of tuition that is required under the terms of any such contract based on the tuition prepayments made; or

3. That any qualified higher education expense will be covered in full by contributions to or earnings on any savings trust account.