AG asked to review change to prepaid tuition plan

AUSTIN, Texas (AP) - A legislator has asked Texas Attorney General Greg Abbott to review a refund change in the state's original prepaid tuition plan.

Participants are facing a deadline to get back their initial investment in addition to earnings if they quit the plan.

Those who drop the plan after Nov. 30 will no longer get earnings, though they will get back the money they put in minus expense fes. Those who don't pull out will still get the full benefit of the tuition and fees they purchased.

The Austin American-Statesman reported Monday that Rep. Jim McReynolds, a Lufkin Democrat, asked Abbott on Oct. 14 to weigh the legality of the refund change.

More than 40 legislators, mostly Democrats, have questioned the refund-policy change.
Information from: Austin American-Statesman,

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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