Quote:
Originally Posted by Like2Plan
Inkstain82,
Many of the programs have a provision where the state backs the prepaid tuition plan if there is a shortfall. There have been some plans which were so far out of balance that they had to take corrective steps. What generally happens is the folks who have already signed up are grandfathered and they stop new enrollments for a period of time and re-wicker the program. The new contract prices generally go up quite a bit when they come back on line.
|
That's what happened so far. But provisions are always a 51-49 vote away from being overturned.
I hate to sound all Austrian-economicy, but I don't trust most state governments' financial situations right now enough that they wouldn't do some pretty unthinkable things.