Tuition program still losing money

Published 09/20 2012 03:59PM

Updated 09/20 2012 05:50PM

SPRINGFIELD -- College Illinois is losing millions to bad investments, again, after the state sunk prepaid tuition dollars into a failing car company. It's expected to cost the program about $5 million, but a spokesperson for the program says students will not feel the effects.

The prepaid tuition program is 30% underfunded and was closed last year. Since then, it's been restructured with different investments. Officials say losses are from old investments and safeguards are now in place.

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