Fitch Makes right call about MPACT - WLOX.com - The News for South Mississippi

WLOX Editorial: Fitch Makes right call about MPACT

Posted: Updated:

It came as a surprise to many people last week when State Treasurer Lynn Fitch decided to halt any new enrollment in the Mississippi prepaid college tuition program commonly called MPACT. The program started in 1996 and lets parents lock in college tuition early preventing future tuition hikes.

Fitch is concerned the investments from the parents' tuition payments are not making enough money to sustain the program. It seems like she is making the right call, as the program investments have only averaged 4.3 percent since it began.

MPACT needs more than a 7 percent return on average to maintain itself. Parents who have already paid into the program need not worry about their tuition cost as the state guarantees to make up any loss.

However, what the treasurer and MPACT board members must now decide is whether the program can be resumed or modified, or was this just an idea that seemed good at the time, but now does not make economic sense?

During these tough economic times, Mississippi does not have any extra funds to keep MPACT going, unless the program can pay for itself.

That's our opinion; we would like to hear yours. Email your thoughts to editorials@wlox.com, or post your comments below.

David Vincent

WLOX-TV General Manager

Copyright 2012 WLOX. All rights reserved.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Two teens charged with Gulfport man's murder

    Two teens charged with Gulfport man's murder

    Tuesday, July 29 2014 3:00 PM EDT2014-07-29 19:00:30 GMT
    Two Gulfport teens are charged with murder after police say they shot Lamont Hayes in his home last week and left him to die.More >>
    Two Gulfport teens are charged with murder after police say they shot Lamont Hayes in his home last week and left him to die. Monday night, investigators tracked down Jalen Shaquille Williams, 19, and arrested him at his home. Rashad Rejohn Johnson, 17, was arrested Monday at the Harrison County Juvenile Detention Facility, where he was being held on an unrelated charge.More >>
  • Two more Singing River Health System clinics set to close

    Two more Singing River Health System clinics set to close

    Tuesday, July 29 2014 9:10 PM EDT2014-07-30 01:10:42 GMT
    Singing River Health System has announced the closure of two more primary care clinics as part of a realignment program. The Gautier and D'Iberville facilities will close August 29.
    More >>
    We will rebound. That's Singing River Health System CEO Kevin Holland's response to the announcement that two clinics are closing in South Mississippi. Those facilities are in Gautier and D'Iberville. Holland said it's also unfortunate that several people will lose their jobs because of the closings.More >>
  • Coroner: Gulfport murder victim was shot in the groin

    Coroner: Gulfport murder victim was shot in the groin

    Thursday, July 24 2014 6:54 AM EDT2014-07-24 10:54:09 GMT
    According to Harrison County Coroner Gary Hargrove, Lamont Hayes, 41, was shot in the groin area and bled to death just a few hours later Tuesday night.More >>
    An area of Gulfport still reeling from the brutal murder of a child last week was hit with another violent death Tuesday night. According to Harrison County Coroner Gary Hargrove, Lamont Hayes, 41, was shot in the groin area and bled to death just a few hours later.More >>
Powered by WorldNow

208 DeBuys Road
Biloxi, MS 39531
(228) 896-1313

FCC Public File
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and WLOX. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.