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TUESDAY, JANUARY 2, 2007
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State treasurer extends college savings plan enrollment deadline

MONTGOMERY (AP) — State Treasurer Kay Ivey has extended the deadline for enrolling in Alabama’s Prepaid Affordable College Tuition program until Jan. 12.

The enrollment period was due to expire Sunday, but Ivey said she pushed it back to encourage more Alabamians to save.

“Saving for college is one of the best resolutions parents can make. It’s a resolution that lasts a lifetime,” Ivey said.

The PACT program has a specific period each year when participants can enroll.

It allow the participants to prepay for 128 hours of tuition and eight semesters of mandatory fees at any Alabama public college or university for students who are in the ninth grade or below. PACT plans can also be used at private and out-of-state colleges.

The state treasurer’s office operates another college savings plan called the Alabama Higher Education 529 Fund.

It is an investment plan that can be started at any point in the year, and the proceeds can be used for all types of college-related expenses, including room, board and books, Ivey said in a news release.

Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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