Texas college tuition fund going broke
AUSTIN, Texas (AP) -- A fund offering Texas parents a guaranteed rate on their children's college tuition is about to go broke.
The Texas Tomorrow Fund was offered between 1996 and 2003, before being changed and renamed. The plan allowed parents of young children to prepay tuition at guaranteed rates regardless of how much costs went up before their children started college.
The problem is that deregulation [of college tuition] sent prices skyrocketing, meaning the fund will need a supplement from taxpayers.
I thought deregulation was supposed to lower prices. But when Texas also deregulated electric rates, giving us some of the highest prices in the nation.
1 comment:
I don't recall deregulation EVER resulting in lower prices. Utilities, airlines, telephone companies, you name it, once it's deregulated, the "competitive marketplace" redefines "supply and demand" as "what the market will bear".
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