March 25, 2009
States' Prepaid-Tuition Plans Get Squeezed
Alabama's prepaid-tuition plan is hurting. Higher-education costs have climbed, a growing number of children are coming of age and using the money for college, and investments have suffered in the market. As a result, the state's Prepaid Affordable College Tuition plan, or PACT, doesn't have enough money to meet its future obligations.
The board that governs the program met Tuesday and decided to close it to new enrollment and ask the State Legislature for help in making