Bill strengthening prepaid tuition program signed into law
Article from The Lane Report:
Caps the rate of return on accounts that are not used for college expenses
FRANKFORT, Ky. (April 15, 2014) – Kentucky is projected to save $ 20.1 million from changes to the state’s prepaid tuition plan under a bill signed into law by Gov. Steve Beshear.
The bill caps the rate of return on Kentucky Affordable Prepaid Tuition (KAPT) accounts that are not used for college expenses. It also sets 2028 as the last year a KAPT account can be used for any purpose.
“This is good legislation that protects current account owners,” Beshear said. “Students and their families are counting on this program to help pay for college, and this helps the state keep that promise.”
House Bill 279 was introduced by state Rep. Mike Denham of Maysville, and cosponsored by Reps. Rick Rand of Bedford, Jim DeCesare of Bowling Green, and Derrick Graham of Frankfort.
KAPT is administered by the Kentucky Higher Education Assistance Authority (KHEAA).
“We are very grateful for Rep…………………continues on The Lane Report
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