Tuition Refunds Update

Texas – Texas Comptroller Susan Combs, in a policy reversal, will urge a state oversight board next week to keep a generous refund formula for those who want to cancel their pre-paid college tuition plans.

Combs says she'll urge the Texas Prepaid Higher Education Tuition Board on Nov. 5 to cancel new rules that would cut the value of the refunds.

The proposed cuts sparked an outcry among parents and legislators.

In May, the board which Combs chairs changed the refund policy to help keep the struggling Texas Guaranteed Tuition Plan solvent.

Copyright 2009 The Associated Press.