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>>

  • Huge alligator snapping turtle set free

    Huge alligator snapping turtle set free

    Tuesday, April 15 2014 12:27 PM EDT2014-04-15 16:27:58 GMT
    There is good news for an alligator snapping turtle that was rescued from a drainage ditch a week ago. "Snappy," as the rescuers referred to the reptile, has been set free.More >>
    There is good news for an alligator snapping turtle that was rescued from a drainage ditch a week ago. "Snappy," as the rescuers referred to the reptile, has been set free.More >>
  • Rural hospital lays off employees, cuts hours to stay afloat

    Rural hospital lays off employees, cuts hours to stay afloat

    Thursday, April 17 2014 6:53 AM EDT2014-04-17 10:53:07 GMT
    Like many rural hospitals in our state, Pearl River County Hospital and Nursing Home is struggling.More >>
    Layoffs. Reduced hours. These are some of the sacrifices a South Mississippi hospital is having to make to keep the doors open. Like many rural hospitals in our state, Pearl River County Hospital and Nursing Home is struggling.More >>
  • Police prepare for another spring break weekend

    Police prepare for another spring break weekend

    Thursday, April 17 2014 12:39 AM EDT2014-04-17 04:39:37 GMT
    Barricades and yellow caution tape remain up throughout Gulfport and Biloxi in preparation for another Spring Break weekend. This weekend is a little different though because no one knows how many springMore >>
    The coast is preparing for another weekend of Spring Break festivities. At this point though no one knows exactly what to expect in terms of crowd size. There are several events listed on a Facebook page promoting spring break for April 18th through the 20th including a performance by rapper Lil Boosie.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.