State’s prepaid college tuition plan future unclear

By Jeff Amy

Associated Press

JACKSON – It’s still not clear whether Mississippi’s prepaid college tuition plan will reopen for additional enrollments, or when that might happen.

But if the plan does reopen, charges could rise by at least 20 percent.

The board that runs the Mississippi Prepaid Affordable College Tuition plan voted Wednesday to ask actuaries to prepare figures for how much the plan would have to charge in the future to avoid deficits.

The board also wants to explore using income from the state’s unclaimed property program to pay down a projected deficit of at least $82 million in the current plan.

That hole opened because of bad investment performance and higher-than-projected tuition increases.

The board, at Treasurer Lynn Fitch’s request, has not sold contracts during the last two fall enrollment periods.