Changes coming to Mississippi prepaid tuition plan
Article from WTVA:
JACKSON, MIss. (WTVA) — Changes are coming to the Mississippi Prepaid Affordable College Tuition program.
Wednesday morning, the Board of Directors for College Savings Mississippi unanimously approved rules for new enrollments in the plan.
The changes include allowing the designation of a “backup” contract holder in the event something happened to the contingent purchaser.
The enrollment period would also moved from four months to nine months and the number of plans and payment options would be streamlined.
The MPACT program was deferred in 2012 over concerns it could not be sustained long term given funding shortfalls.
State Treasurer Lynn Fitch says the changes will allow the program to reopen in a fiscally responsible way.
The rules are being submitted to the Mississippi Secretary of State’s Office where they will be posted online for public comment for the next 60 days.
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Related News:
Florida Prepaid College costs expected to plummet
Article from Orlando Sentinel:
May 14, 2014|By Denise-Marie Ordway, Orlando Sentinel
The cost of buying into the Florida Prepaid College Program is expected to plummet this fall, thanks to legislative changes that Gov. Rick Scott has said he intends to approve.
Many low- and moderate-income families would like to lock in the price of a university education for their children but are effectively blocked from participating because the program has become so expensive. Here’s what you need to know about the proposed changes:
Q: Which plans will cost less?
A: Families likely will see big discounts in the plans that allow them to prepay tuition at a public university. The most popular plan — the University Plan — covers four years of tuition and fees.
Q: How much will I save?
A: Prices won’t be set for several more months. But officials expect the cost of the University Plan to drop at least 25 percent………………….continues on Orlando Sentinel
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