Fitch Discusses MPACT

Mississippi state treasurer, Lynn Fitch, spoke to Meridian's Rotary Club Wednesday about the Mississippi Prepaid Affordable College Tuition program.

Fitch says with the current financial crisis, the state has not been able to obtain the interest earnings that they had in the past to adequately sustain the fund.

"If you take out the service fees, you're down to 4.3 percent. And you have an actuarial report, you need to make 7.8 percent. That's a pretty big gap. And with the tuition prices every year, again, that's another factor."

Fitch says the state is looking right now at MPACT to find out the strengths and weaknesses, and if it is sustainable.


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