DENVER - A state fund set up to help families cut the cost of college tuition by paying in advance has been found financially unsound and will close later this year.
The Colorado Prepaid Tuition fund is shutting down November 1.
According to the Denver Post the fund has about $24 million invested.
Prepaid fund enrollees will receive a 5.5 percent return on their investment August 1 and will have until November 1 to move their money out of the fund.
A spokesperson for CollegeInvest, the company that runs the fund, told the Post no one has lost any money.