Alabama prepaid tuition plan seeks cash input - WSFA.com Montgomery Alabama news.

Alabama prepaid tuition plan seeks cash input

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 management.

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.

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

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