MONTGOMERY, Ala. (AP) - Two Republican legislators are working
on a plan to shore up Alabama's financially troubled prepaid
college tuition program without using state tax dollars.
Sen. Scott Beason of Gardendale and Rep. Robert Bentley of Tuscaloosa say their plan would move the tuition program's assets
from the stock market to an annuity.
Then they propose doing away with a state law that allows out-of-state students living within 50 miles of an Alabama college
to pay in-state tuition.
They say that would generate $25 million annually in higher tuition payments that would go toward the tuition program.
They also propose requiring all out-of-state students to pay the full cost of their education at a state university.
That extra money would also go toward the tuition plan.
(Copyright 2009 by The Associated Press. All Rights Reserved.)