Video: State Renews MPACT College Tuition Program
JACKSON, Miss. (WCBI) — The Mississippi Prepaid Affordable College Tuition Program will re-open enrollment this fall. The board of directors for College Savings Mississippi approved the measure today. The state backed savings plan had been closed to new enrollees since 2012, because of concerns about a budget shortfall. Members say the new contracts :must be “priced appropriately” and not add to the shortfall.
The program is about $82 million short of what it needs. State Treasurer Lynn Fitch says reopening enrollment will reduce the shortfall but not erase it. Changes in future contracts will not affect current contract holders.