Lt. Gov. Tate Reeves and others grilled Treasurer Lynn Fitch on why she called a halt to the state’s prepaid college tuition program — and why she didn’t tell them about it. Fitch said she’s looking out for taxpayers. Fitch told lawmakers at Tuesday’s Joint Legislative Budget Committee hearings that the program is struggling financially, and she wants a thorough audit and study of whether it needs to be overhauled or scrapped, as most other states with similar programs have done. Until then, at Fitch’s request, the Mississippi Prepaid Affordable College Tuition board voted not to accept new enrollment. Fitch said MPACT, which has 22,293 families enrolled, is only 76.8 percent funded, leaving a $94 million shortfall. She said investment earnings last year were only .6 percent.
http://www.clarionledger.com/article/20120919/NEWS/309190035/Fitch-hot-seat-over-prepaid-college-tuition-decision?nclick_check=1
