Prepaid tuition plan may reopen

The MPACT Board and state Treasurer Lynn Fitch expressed hope Tuesday that the program that allows parents to purchase college tuition for their children at current rates can be resumed by next January.

But new enrollees to the program may be required to pay more to participate.

The board of the Mississippi Prepaid Affordable College Tuition Plan announced in September it was stopping new enrollment until an audit could be done of the plan’s long-term sustainability. At the time, Fitch would not commit to resumption of the plan.

On Tuesday, auditors with Michigan-based Gabriel Roeder Smith & Company told the board that the plan had problems that must be resolved, but that there are many reasons to continue MPACT.

Northeast Mississippi Daily Journal
5/1/13