Parents Look At Saving Alabama PACT

College Funding  Some are worried money for college won’t be there.
by Chad Petri
Published: Sun, September 20, 2009 - 9:34 pm CST Last Updated: Sun, September 20, 2009 - 9:36 pm CST
MOBILE, Alabama - Some parents are worried they'll have to shell out more money for their child's state-funded education. That's why the group “Save Alabama Pact” met in midtown Mobile today, 9/20/09. That's the “Prepaid Affordable College Tuition Program.” Organizers say they're worried they won't get a return on the money they invested in the program. Many local officials say they need help honoring those investments.

“I think there is a huge consensus of opinion among elected officials that a solution has got to be found to make sure that the that the pact meets its commitments,” says State Senator Ben Brooks. Some of the money invested through the Alabama Pact program was put in equities and stocks before the market crash of 2008.
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Lord,don’t even mention digging ditches!I did that to earn money to help.Digging foundation ditches for different buildings around town and that was some hard work and I still ache just thinking about it all those decades ago.I think very few are willing now to earn their way or do physically hard work to attain a higher education.I get the feeling most think it’s an entitlement now instead of a privilege,regardless of who pays.

South…I agree, it may take a little longer to get through college going that route but our son did it (like others before him).  The co-op program, waiting tables and tutoring other students when possible worked for him but you have to have a plan.  When he graduated…he had one outstanding student loan of around $1200.  Now, who says you have to graduate owing mega bucks too?  People want EVERYTHING give to them on a silver platter and expect it give to their kids too. (jmo) Roll Tide!

southfan1981, I have read the plan. It is backed by the State of Alabama. There is no fine print. If the State made a bad investment, its their problem. They should be treated like Bernie Madoff. What is the difference?

The fine print was clear that their investments were not insured against loss. Oh well, many of us lost in our investments. There is nothing wrong with Johnny flipping burgers or digging ditches to put himself through college. Then again, there is a perfectly good local welding program that would allow someone to work a decent paying job, appreciate their classes and make a better go of University than had it been handed to them in a check ever semester.

“It Happens”

Framkly,you should have a conversation with the old fellow that runs the Perdido vineary,between 65 and 31,he can give you an ear full on Alabama’s ABC board and such.You’d get a big laugh out of it.

The State has the money. All they have to do is shut down the enforcement of the ABC Board and sell off the stores to private investors. The money saved would be more than enough to fund the PACK program. I never did like Socialize alcohol.

I’ve made a few investments I wish I could take back too,but it just doesn’t usually happen.Sue the people responsible and try to get back a portion of their money but I’m not in the mood for another bailout at this time of economic woes.I really feel for these people but it was a gamble or so it seemed to me.As the old saying says"If it seems too good to be true,it most often is”,but good luck on getting their investment back as long as I don’t have to foot the bill.

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