MONTGOMERY, Ala. (AP) - The board that oversees Alabama's
prepaid college tuition plan is fighting off litigation at it
prepares to meet Tuesday to figure out how to keep paying students' tuition with plunging assets.
The board will convene at the Capitol auditorium at 10 a.m. to
try to deal with assets that have lost nearly half their value in
the last 1½ years.
The chairwoman, State Treasurer Kay Ivey, says the board will
make a definitive statement about summer and fall tuition for
Two participants, Allen R. Hudson and Nina McGinnis, filed suit
late last week in Calhoun County Circuit Court against Ivey and the companies that make the program's investments.
The suit accuses the defendants of negligence and breach of contract.