Text1.SelStart is the location of the cursor

so you use

Code:
Dim S$, where&
S = Text1
where = Text1.SelStart

Text1 = Left$(S, where) & _
        "your text goes here" & _
        Right$(S, Len(S) - where)
put in
& vbCrLf &
where you want your text to start on a new line