The college education of the future may turn out to be cheaper than the college education of today, despite continuing tuition increases.

The state Senate yesterday unanimously passed a compromise bill to allow parents to buy college credits long before their child is of college age.

The plan would let parents purchase tuition credits at today's prices and use the credits toward tuition four or more years down the line. That would be used for state-related or state-owned universities and community colleges.

The state would also be permitted to sell zero-coupon bonds to parents. The bonds would help parents save money for their children's future college education. The interest on these bonds would be compounded semi-annually and would be exempt from federal and state taxes.

Undergraduate Student Government President Mark Stewart said USG lobbied for this legislation in Harrisburg and student leaders plan to discuss the bill at their tuition workshop this weekend.

"We were told that the University was against it," Stewart said, adding that this legislation provides a fantastic opportunity for students and their parents. It would allow more students to attend college and would help the University with minority recuitment, Stewart said.

But Marion U. Coppersmith Fredman, University Board of Trustees president, said the University has been looking into pre-paying options that would give parents the opportunity to purchase college credits.

"I'm not familiar with the University being opposed to this program," Fredman said, but added that she has not yet discussed this bill with the administration.

State Rep. Lynn Herman, R-Centre, said the state-owned, state-related and community colleges would be required to submit their tuition figures annually by Aug. 1. The state treasurer would then average a base fee for colleges in each of these three sectors and credits could be purchased based on the averages.

"It will help parents to better afford the opportunity to send their children to college," Herman said.

The state House of Representatives will vote on the bill next week.

"At this time I fully intend to support the legislation," Herman said.

C. Gregory Knight, vice provost and dean for undergraduate education, agreed that the bill's success would be good news for future college students.

"Any actions by the state of Pennsylvania to increase the affordability of education would be highly desirable," Knight said.

State Sen. J. Doyle Corman, R-Centre, said the credit purchase program would just be one more way for parents to save money for a future college education.

"It won't affect students or parents right now, but it will provide for the future," Corman said, adding it will allow parents to buy portions of an education now to use up to 15 years later.