Rising Tuition Costs Affect M-PACT

Parents already enrolled in the state's prepaid college tuition program known as M-PACT don't have to worry if tuition keeps increasing in the future.

M-PACT is a college payment program where parents can pay into a fund that will eventually be put toward their child's education. Once a parent is enrolled in the program they'll pay a fixed rate, regardless of how much tuition increases over the years.

"That's one of the beauties of the mpact program, they never have to experience an increase in the cost of their tuition, they can sit back and enjoy life so to speak and not worry about it, who's going to pay for their kid's college tuition.  M-PACT will pay for it because we lock in the price today and never pass that cost onto the parents that are already in the program," said Marshall Bennett, State Treasure.

Tuition increases don't effect families already in the program, but they do raise the cost of entering the program.