Folsom says Legislature will shore up Ala. PACT

MONTGOMERY, Ala. (AP) - Lt. Gov. Jim Folsom Jr. says he's
confident the Legislature will act this year to make sure participants in Alabama's prepaid college tuition plan get the payments they are expecting.

But no plan to for legislative action took shape Thursday.

Folsom serves on a three-member committee of state officials looking for ways to shore up the program, which has lost half of its assets due to the turmoil on Wall Street.

The committee also includes State Treasurer Kay Ivey and state two-year college Chancellor Bradley Byrne.

The three members held their first meeting Thursday but did not decide on any plan to recommend to the Legislature and did not schedule another meeting.

The State Board of Education, at Byrne's request, agreed to waive any tuition increases for participants attending two-year colleges.

(Copyright 2009 by The Associated Press. All Rights Reserved.)


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