Montgomery, AL – The board that oversees Alabama's prepaid college tuition plan is fighting off litigation at it prepares to meet Tuesday to figure out how to keep paying students' tuition with plunging assets.
The board will convene at the Capitol auditorium at 10 a.m. to try to deal with assets that have lost nearly half their value in the last 1{ years.
The chairwoman, State Treasurer Kay Ivey, says the board will make a definitive statement about summer and fall tuition for participants.
Two participants, Allen R. Hudson and Nina McGinnis, filed suit late last week in Calhoun County Circuit Court against Ivey and the companies that make the program's investments. The suit accuses the defendants of negligence and breach of contract.
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