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Alabama suspends enrollment in prepaid plan

(March 31, 2009) - The Board of the Alabama Prepaid Affordable College Tuition (PACT) plan has decided to suspend enrollment for an indefinite period in the face of severe financial deficits brought on by the stock market. The Board voted unanimously not to dissolve PACT.

A committee has been appointed to work with the Alabama Legislature to consider legislation that would secure funding for PACT and its participants. Committee members are Treasurer Ivey, Lt. Gov. Folsom, and Chancellor Byrne.

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