The program offered a deal to Texas parents with young children: prepay when Junior is small and you won’t have to worry about the cost of tuition at a Texas college or university, even as rates climb. But with the rapidly rising cost of college, the Texas Guaranteed Tuition Plan is going broke.
Federal stimulus funds allocated to Virginia’s public colleges and universities helped keep the average increase in tuition and fees for in-state undergraduates to about 5 percent for the upcoming school year.
The money legally is theirs to spend as they choose.
But Gov. Jay Nixon is delivering a message to Missouri’s colleges and universities that he expects them to use $40 million in next year’s budget to expand the number of classroom slots available for aspiring health care professionals.
The state Legislature wrapped up its 2009 session without solving the financial problems in Alabama’s prepaid college tuition plan, but it did agree to have the state pension fund conduct a detailed study of the program.