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From the staff of the Tampa Bay Times

Can we tap prepaid college tuition fund?

9

March

College450_59528a They are desperate for money. Hurting for ideas.

And it has come to this: What about the money the Florida Prepaid College Board is sitting on?

The popular family program benefits one out of every 10 children in the state. Parents invest tens of thousands of dollars — sometimes in small monthly installments over 18 years — to lock in present-day tuition rates for their future college students. More than 1.3 million contracts have been sold since it started in 1988. That means that at any given time, the program's assets rate in the billions.

"We talked about the possibility if there was such money there, perhaps we could borrow that," said Sen. Evelyn Lynn, R-Ormond Beach, chair of the Senate higher education appropriations committee. "We're looking at everything. We're really hurting and we need new sources of income." (story here)

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[Last modified: Thursday, September 9, 2010 8:30pm]

    

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