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More bad news for Ala. tuition plan; parents irate

The board that oversees Alabama’s prepaid college tuition program got more bad news about the plan’s financial outlook Wednesday, and the board’s chairman got an earful of outrage from frustrated parents who can’t plan for their children’s education, the Associated Press reports. Actuary Dan Sherman said the board’s liabilities will exceed its assets by $605 million if it keeps paying full tuition, and it should run out of money in fall 2015. He said if it keeps paying full tuition for more than 10,000 students currently enrolled in college, the board will need to close the program down in about a year if it wants to have enough left to refund the money participants paid to join. The board is paying full tuition while the Alabama Supreme Court considers the constitutionality of a law that would allow it to pay reduced tuition at 2010 levels and remain operating…

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