DECEMBER 21, 2005 - Posted at 2:40 p.m. CST
FAYETTEVILLE, AR - University of Arkansas officials say they've decided to drop a new program that allowed students to charge up to $ 800 at the university bookstore to their student accounts and pay the bills later in the semester.
The credit could only be used for books and academic materials.
The program drew criticism from state legislators, most notably state Sen. Sue Madison, (D) Fayetteville. She said it was unfair to private booksellers who couldn't participate in the program.
Members of a state legislative committee asked Friday that the university either open the program to other bookstores or end it.
The university decided to disband the program after it determined that opening it to private companies would violate Arkansas law.