Montgomery, AL – The financial problems in Alabama's prepaid college tuition program have become the first controversy in the 2010 race for governor.
State Treasurer Kay Ivey, who administers the program, and Lt. Gov. Jim Folsom Jr., who serves on the tuition plan's board, are considering running for governor in 2010.
The two candidates who have already announced for governor are criticizing how the state tuition program lost nearly half of its assets.
U.S. Rep. Artur Davis says it is an example of state government failing to manage the citizens' money wisely.
Greenville businessman Tim James says the board took irresponsible risks with parents' money.
James is running for governor as a Republican and Davis is running as a Democrat.
Ivey says it's wrong for politicians to exploit the situation. She says this is no time for petty politics.
(Copyright 2009 by The Associated Press. All Rights Reserved.)