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Grading the MPACT

JACKSON, Miss. — You still can’t sign your children up for the Mississippi Prepaid Affordable College Tuition Plan (MPACT).

MPACT allows parents to lock in today’s college tuition rates and start making monthly payments early to fund their child’s education.  But it has a deficit problem and was closed to new sign-ups more than a year ago.  “If we can open this plan up, we would love to make it accessible to people again,” said State Treasurer Lynn Fitch.  But she added that some changes would have to be made.  “We have to put in some risk assumptions, so the contracts would be much more costly than they were before the closure, in order to create the sustainability.”

The more than 20,000 children currently locked into the program would not be impacted by any changes.

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