JACKSON, Miss. (AP) — After 16 months of studying whether to reopen the Mississippi Prepaid Affordable College Tuition Program, the board that runs it wants the Legislature's opinion.
While lawmakers are at it, a pledge of more than $100 million over the next 20 years would be good, too.
The board voted Monday to ask lawmakers to indicate if the plan should reopen and sell new contracts.
If reopening is the answer, the board says it needs $7 million a year over the next 20 years to make up an $83 million shortfall. Closing the plan would be even more expensive, requiring $11 million a year for 20 years.
Board members say they favor trying to reopen, but say they're likely to charge more in the future to provide a cushion against shortfalls.
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