September 22, 2000

National College Savings Group Honors UA Official

September 22, 2000ยป NR 23-2000

A University of Alaska official who is recognized nationally for his expertise in college savings plans has been honored by the national College Savings Plans Network.

Jim Lynch, UA Associate Vice President for Finance, has been given the Network's 2000 Distinguished Service Award for "exceptional leadership and support."

Lynch helped design the university's existing Advance College Tuition Plan (ACT) which now serves about 9,000 participants and has total assets of approximately $28 million. The plan enables parents and others to buy tuition credits at today's prices for use in the future.

Alaska legislators relied heavily on Lynch's expertise when they crafted a new law creating the Alaska Higher Education Savings Trust Program which will allow participants to invest their college savings in mutual fund-type investments on a tax-deferred basis. Currently, the university is seeking proposals from financial institutions to run both the ACT and the new savings trust program.

FOR MORE INFORMATION: Bob Miller, 907-474-6311