Report: State Prepaid Tuition Program 30% Short Of Obligations

12/14/2011 09:27 am ET | Updated Feb 13, 2012
  • Ryan Haggerty Chicago Tribune

The state's troubled prepaid college tuition program is about 30 percent short of the funding needed to meet its projected obligations, according to a report released this week.

The report, conducted by actuarial consultants Gabriel, Roeder, Smith & Co., shows that the College Illinois program had a deficit of almost $560 million as of March 31.

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