JPZenger
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Wed Mar-16-11 09:48 PM
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Top Republican Legislator Opposes Drastic Cuts in Education |
JPZenger
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Wed Mar-16-11 09:53 PM
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1. State will need to reimburse guaranteed tuition fund if major cuts |
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The State Treasurer pointed out that there are large sums of funds that parents invested in guaranteed tuition funds.
Hundreds of thousands of people have money with the state over the last 15 years and were guaranteed the ability to fund a certain amount of college credits at state schools. If Governor Gashole gets his way and drastically cuts state university funding, and the tuition skyrockets, then the state government is contractually obligated to make up the difference in the investment plans.
Therefore, the cost savings to the state would be minimized.
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