Alabama PACT and Florida Prepaid Programs
The Prepaid Affordable College Tuition (PACT) Program is an Alabama program through which contracts are purchased to pay four years of undergraduate tuition and mandatory fees at public institutions in Alabama. The program may also be used at out-of-state and private schools. [Florida residents: Florida Prepaid funds are applicable to attendance at Huntingdon College, as well. The Office of Student Financial Services will award these funds on the basis of Florida guidelines.]
Alabama PACT benefits can be used for 135 semester hours of undergraduate tuition and eight semesters of mandatory fee payments. The PACT contract terminates after payment of these amounts, or after the awarding of a baccalaureate degree. The payment amount is determined according to the weighted-average tuition at the Alabama public four-year institutions, and is recalculated annually. The amount PACT pays for the 2011 calendar year is as follows:
- Rate per semester hour: $228.74
- Mandatory fees per semester: $144.45
Note: A $25.00 processing fee will be deducted from the payment for each term.
For a 12-credit-hour course load, PACT will pay $228.74 per credit hour, total $2,744.88 for that semester. PACT will also pay $144.45 for the semester’s mandatory fees, bringing the total to $2,889.33. Subtracting the $25.00 processing fee from the total, PACT would contribute $2,864.33 per semester.
For a 15-credit-hour course load, PACT will pay $228.74 per credit hour, total $3,431.10 for that semester. PACT will also pay $144.45 for the semester’s mandatory fees, bringing the total to $3,575.55. Subtracting the $25.00 processing fee from the total, PACT would contribute $3,550.55 per semester.
In order for Huntingdon to bill a prepaid tuition program such as Florida Prepaid or Alabama PACT, this form must be submitted: Prepaid Tuition Plan Worksheet.