Changes coming to Mississippi prepaid tuition plan

JACKSON, MIss. (WTVA) — Changes are coming to the Mississippi Prepaid Affordable College Tuition program.

Wednesday morning, the Board of Directors for College Savings Mississippi unanimously approved rules for new enrollments in the plan.

The changes include allowing the designation of a “backup” contract holder in the event something happened to the contingent purchaser.

The enrollment period would also moved from four months to nine months and the number of plans and payment options would be streamlined.

The MPACT program was deferred in 2012 over concerns it could not be sustained long term given funding shortfalls.

State Treasurer Lynn Fitch says the changes will allow the program to reopen in a fiscally responsible way.