WIS News 10 - Columbia, South Carolina | Bill would stop parents from enrolling in prepay tuition program

Bill would stop parents from enrolling in prepay tuition program

(Columbia-AP) February 14, 2007 - Parents could no longer enroll in a program that reduces college costs under a bill heading to the Senate floor.

The program lets parents prepay tuition at the current rate, saving them from ever-rising tuition increases. Currently, they can enter the program until their child finishes tenth grade.

The program was started in 1997.

But a bill passed Wednesday in a Senate committee would close the program to new members.

Paige Parsons is a senior assistant to state Treasurer Thomas Ravenel.

She says if tuition increases by nine percent annually, the program would have a $63 million deficit by 2028. That's when the last of more than 6,300 people already enrolled will stop paying.

Parsons says annual increases of seven percent would create a $41 million deficit.

Posted 3:21pm by Bryce Mursch