Texas – Some legislators are urging Texas Comptroller Susan Combs to abandon a plan to cut refunds to those who invested in a state prepaid college tuition program.
But comptroller spokesman R.J. DeSilva said the board has no plans to change its May decision. With the rise in college tuition and other factors, the panel took the step to keep the fund solvent.
DeSilva tells the Fort Worth Star-Telegram, "The reason behind the rule change has not changed."
After Oct. 30, people who paid into the Texas Guaranteed Tuition Plan will receive only the money they put into the plan if they request a refund. They will not got any earnings, no matter how long their money had been invested. Fees will be deducted from their refund.
Information from: Fort Worth Star-Telegram, http://www.star-telegram.com
Copyright 2009 The Associated Press.