Board to receive audit results, consider future of prepaid tuition program

The future of the Mississippi Prepaid Affordable College Tuition program will be discussed Tuesday during a meeting of the state board that oversees the program.

New enrollment in the program that allows families to prepay a student’s college tuition was put on hold last year by state Treasurer Lynn Fitch and the College Savings Plan Board because of a roughly $94 million deficit in what would be required to fully fund the tuition of each of the approximately 22,000 participants already enrolled.

The second phase of the audit is set to be presented today to board members. In January, the first phase of the audit raised concerns about the viability of MPACT and suggested pricing and contract changes.

Clarion Ledger