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Name:
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Mack
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Subject:
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Alabama PACT goes Belly-Up!!
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Date:
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6/11/2011 8:23:32 PM
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This is going to be a RANT from a P$$%d citizen of the state of Alabama.
Alabama PACT is a plan to Pre-Pay college tuition now, at current rates to a 4-year state college. GREAT!! Grandparents signed up all over. Smart parents signed up too. You can pay all up front, or pay a monthly fee toward the total cost of the plan.
In my case, I paid a lump sum $22,000 for my Grandson's tuition when he is ready to enter college. $22,000.
The economy tanks,, the market dives,, the PACT is in trouble.
Here come the LAWYERS with their teeth showing. Well, they are drawing BLOOD along with MONEY.
The "Court" has decided, with the State of Alabama's agreement, that:
- Yep, there is a problem
- Yep, it is bankrupt
- Nope, you cannot get ANY OF YOUR MONEY BACK!!!!!!!!!!!
I cannot even opt out of the program with my $22000 and invest it somewhere else. So says the judge and THE STATE OF ALABAMA.
I am, once again, a FOOL, for believing in government at ANY LEVEL.
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