MONTGOMERY, Ala. (AP) - State officials seeking a financial
rescue for Alabama's prepaid college tuition plan are looking to
the Legislature for money and the state pension fund for
The chair of the Prepaid Affordable College Tuition Plan, State
Treasurer Kay Ivey, says a three-member committee of the PACT Board is working on legislation that would provide up to $25 million a year from the state education budget or some other source to shore up the program.
The legislation would also turn over management of the program's
assets to the Retirement Systems of Alabama, and it would place
limits on tuition increases by colleges for the more than 48,000
students in the program.
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