Saw that one coming …
Back in 2001, when writing about the Tennessee Baccalaureate Education System Trust, I found myself a bit dubious about the concept — locking in then-current tuition rates by paying in advance.
I wondered where would the money come from to make up for the price difference between then-tuition and future tuition ? The program, of course, was financed through investment… in the stock markets. So, I asked what happens if the markets tank?
“If we see that we’re lagging behind or getting into trouble there are several options,” then-Executive Assistant to the Treasurer Janice Cunningham said. “One would be to possibly go to the legislature, since they are the ones that created the program, to see if the state would back it. The state has a moral obligation to put in what would be needed.”
Well, eight years later …
