MONTGOMERY, Ala. (AP) - The board that has overseen Alabama's
prepaid college tuition program since its inception two decades ago has held its final meeting and authorized its attorney to try to settle lawsuits filed over the program's financial problems.
The board of the Prepaid Affordable College Tuition plan meet for about two hours Monday. Most of the time was spent with its attorneys discussing litigation. One of the attorneys said there have been no offers of settlement so far.
The Legislature voted last month to appropriate $548 million to make sure PACT can pay the tuition of its 44,000 participants. The Legislature also created a new PACT board, which takes over June 1. The state treasurer will still oversee the daily operation of the program.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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