Kentucky’s foray into pre-paid tuition programs has been an unmitigated disaster costing the state untold millions of dollars. The main problem has been that shortfalls in the KAPT program from rising tuition and poor investment returns fell to state taxpayers for bailing out.
Texas has a solution. The Texas Tuition Promise Fund started up September 1 with a promise that tuition units purchased over time will be honored by state schools and that the colleges and universities will be responsible for making up any shortfalls.
Sounds like a terrific way to keep down higher education costs. I’m not aware of any other state doing this.