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VOL. 129 | NO. 58 | Tuesday, March 25, 2014

Mississippi College Savings Plan to Reopen Enrollment

AP

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JACKSON, Miss. (AP) — A board has voted unanimously to re-open enrollment this fall in the Mississippi Prepaid Affordable College Tuition program.

The state-backed savings plan had been closed to new enrollees since the fall of 2012 because of concerns about a funding shortfall.

State Treasurer Lynn Fitch says in a news release that when the board voted Monday to reopen enrollment, members agreed new contracts "must be priced appropriately" and not add to the shortfall.

The program is about $82 million short of what it needs to meet all its obligations. If new enrollment were closed permanently, the treasurer's office says the shortfall would rise to $142 million. Fitch says reopening enrollment will reduce the shortfall but not erase it.

She says any changes in future contracts won't affect 21,000 current contract holders.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
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