****  A new WEBSITE has been created ****

It has a great deal of information that is very helpful and is much easier to navigate.  Please go to www.savealabamapact.com

You can also register and post your comments.  A sincere "thank you" to the ones that set it up.

This site will still exist but much of the same information can now be found on the new website.

*************************************

Recap of March 12th meeting: 

There was a tremendous amount of frustration with the State for putting the college education of our kids in jeopardy.

Here are some of the comments made at today’s PACT meeting:

• We bought this program because we were told it was guaranteed
• How can some PACT’s be guaranteed and others not?
• Who changed the word "guarantee" to "provide" in the contracts?
  
• Why will the Board not answer questions?
• Why does the Board seem so rushed to make a decision?
• This is a State sponsored program that was created by a legislative act
• Why did the professional fund managers not change investments to reduce losses?
• We have a contract with the state not an investment fund
• Honor your contract with the participants
• We are unhappy with the Management and Board
• Where are the OTHER 5 Board members?
• Why were we given only two days notice of this meeting?
• Why are you publishing statements that are so negative?
• Where is the Governor?
• Why don’t we use stimulus funds?
• We do not want the principal back, we want the tuition paid as the program promised
  
• You were asked 5 years ago to seek the “full faith and credit” of the state, why did you not do that?
• Who are the fund managers?
• The failure of the program is NOT an option
• Re-double your efforts and fix the problem
• Our Alabama constitution has been amended over 700 times.....PASS another amendment, NOW
• We do not want a tax credit, we want the tuition paid as the State promised

The Board meeting is March 24^th.  We were told they were seeking a facility large enough to accommodate the number of people who plan to attend.

Please remember that you can email your comments to the PACT Board and Kay Ivey at  alapact@treasury.alabama.gov

         BOARD MEETING                INFORMATION:  UPDATE !

The PACT Board Meeting will on March 24, 2009 in the State Capital Auditorium at 10:00 am.  There is additional information posted on the State Pact website.  A link can be found on the left side of this page.

**************************************

FACEBOOK LINK - Save Alabama's PACT

http://www.facebook.com/group.php?gid=137447580362

**************************************

On March 24, 2009, the Board of Directors and Treasurer Kay Ivey will meet to consider the viability of the Alabama Prepaid Affordable College Tuition (PACT) Program and the negative impact that the stock market downturn has had on the investment fund.

What does this mean?  It means that those of us that tried to plan for the education of our children may end up losing all or most of our investment.  Even if your son or daughter is currently enrolled, sufficient monies may NOT be available for the Fall ’09 tuition and beyond.

This program was marketed to the public as a "GUARANTEED" program through the State of Alabama.  All material provided and references to the program state and have stated historically that the program would provide up to 4 years of college courses for the enrolled student.

What can we do?  Contact the PACT Board of Directors as well as your legislators to let them know you want them to stand behind and save this PACT program. Go to the "who to contact page"…then call, send an email or write a letter today letting them know they have a responsibility to honor the PACT program.

Also remember that you can attend the PACT Board meeting on March 24, 2009.  I will post the time and place as soon as the information is available.  Time and location has not yet been shared by the Board.

If you have email addresses of  other elected officials in Alabama, please feel free to forward them to me and I will post them on the "contacts" page.

.

      SAVEthePACT@gmail.com

NOTE:   This is an UNOFFICIAL website for all those that would like more information about the Alabama PACT Program.  Nothing on this site has been misrepresented.