Friday, July 29, 2011

PACT settlement: Attorney for parent says appeal possible

MONTGOMERY, Alabama — The attorney for a parent who opposes a legal settlement involving the state's prepaid college tuition plan says he expects that a judge's decision to OK the deal will be appealed.
David Rayfield says the PACT program should meet all financial obligations to those who bought contracts and questions cost projections that led to those overseeing the plan to declare a crisis. Others involved in the settlement say it's the best agreement possible, given the program's financial difficulties.
Montgomery County Circuit Judge Johnny Hardwick approved the settlement Wednesday. It allows parents who bought contracts to be paid in the future at the level that was due to them in autumn 2010. Students will be able to attend college with much of their tuition paid but must cover tuition increases since last fall.

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