Montgomery County Circuit Judge Johnny Hardwick approved a settlement reached in the Lisa Nix Green, et al v. Kay Ivey, et al litigation Wednesday. The settlement affects the manner in which tuition and fees will be paid by Alabama’s Prepaid Affordable College Tuition Program (PACT).
Beginning with the fall 2011 term, PACT tuition and fee payments will be made at the rates that were charged by Alabama public institutions in the fall 2010 term. PACT participants will be responsible for paying any current tuition and fee amounts above the PACT payments.
“The settlement provides benefits for all contract holders, preserves substantial value and protects the program with a long-term financial plan,” State Treasurer and PACT Board Chair Young Boozer said. “This is the best possible outcome for PACT participants, given the available assets.”
More information about the case and the settlement is available on the PACT website at www.800alapact.com.