December 11, 2013
TROY, Ala. (AP) - Troy University is offering some relief to Alabama's financially troubled prepaid college tuition program.
The Troy board agreed Wednesday to a three-year waiver of tuition increases to current and future students in Alabama's Prepaid Affordable College Tuition Plan.
Troy Chancellor Jack Hawkins says the action was in response to a request from the program's board. The program has seen its assets cut nearly in half due to the downturn in the stock market, and it is grappling with how to keep paying tuition increases.
Troy currently has 600 students in the program.
Troy's decision came a week after the University of Alabama System and Auburn University declined.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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