Official: "Alabama Tuition Plan Can Be Saved"

By: The Associated Press
By: The Associated Press

An official of Alabama's pension program says the state can likely save the financially ailing prepaid college tuition plan with much cooperation.

Retirement Systems deputy director Marc Reynolds said an actuarial firm has completed a study of the Prepaid Affordable College Tuition plan. He said he will present the study to the governor before making it public.

But Reynolds said it will take a collective effort by the Alabama Legislature, governor and education leaders to save the program.

The legislature asked the Retirement Systems to study the tuition plan because its assets don't cover its future tuition obligations. The plan's board meets Aug. 19.

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