No time like now:  Reeves talks to students about saving for college

http://meridianstar.com/local/x955424570/No-time-like-now

The Meridian Star

By Brian Livingston/ blivingston@themeridianstar.com

  Tate Reeves, State Treasurer, speaks to fifth grade students at Poplar Springs Elementary School Wednesday morning about the importance of saving for college now and two state-run college fund savings programs.     

Governor Haley Barbour Declares September As “College Savings Month”

 “We’ve seen the cost of tuition at Mississippi’s public colleges more than double in the time it took one cycle of students to advance from first through twelfth grade,” Treasurer Reeves said. “Now more than ever, a college degree is vitally important for success in today’s world. That’s why College Savings Mississippi remains strongly committed to our mission of helping make college affordable and accessible for all Mississippians.”

 MPACT is Mississippi’s 529 prepaid tuition plan that lets you lock in college tuition at today’s rates, regardless of future tuition increases. It is guaranteed by the State to cover the cost of college tuition and mandatory fees at Mississippi’s public colleges – the benefits can also be used for private or out-of-state schools. Earnings are exempt from Federal and State income tax. In addition, contributions made to a contract are fully deductible from Mississippi Income Tax.

 “Given the financial and economic challenges facing our state, I believe our role in providing cost-effective college savings alternatives has never been more important,” Reeves added. “Proper planning by parents and grandparents early in a child’s life can make a significant difference when college draws near.”

For more information on the College Savings Mississippi programs, please visit www.CollegeSavingsMississippi.com or call 800-987-4450 or 601-359-5255. 

(Jackson, MS) – State Treasurer Tate Reeves will speak to two national television outlets today regarding Mississippi’s response to the gulf oil spill and its economic impact. The live interviews are as follows: Reuters at 2:00 p.m. (CST) and FOX Business at 2:30 p.m. (CST).

State Treasurer Tate Reeves, College Savings Program, Partners with Mississippi Council on Economic Education

Students in Quitman County accept their certificates at an April Awards Ceremony.

(Jackson, Mississippi) – Over 100 students from low-to-moderate income households participated in the Youth Asset Development Program (YAD) this year and saved over $18,000 for their college education. The Mississippi Council on Economic Education partnered with the Mississippi Affordable College Savings (MACS) program in State Treasurer Tate Reeves’ office to educate these children on the importance of a college education and of starting to save today for tomorrow’s college costs.

 “The accomplishment of these children is phenomenal,” said Treasurer Reeves. “How encouraging to know these students understand the value of a college education and the value of saving.  That’s why College Savings Mississippi remains strongly committed to our mission of helping make college affordable and accessible for all Mississippians.”

 The students that participated in YAD were from low-to-moderate income households in Quitman, Sunflower, LeFlore, Hinds and Washington counties. The Mississippi Council on Economic Education received a grant from the Foundation for the Mid-South, a regional community foundation, that allowed them to match up to $325 for middle school students and $750 for each high school student that participated. At the completion of the program, the students could purchase either a computer or invest their savings in the MACS program, to save toward their college education.  This program compliments the vision of the Mississippi Council on Economic Education; making sure students leaving high school are prepared for their economic roles as workers, consumers, citizens, savers, investors and lifelong decision makers.

 “We are so proud Mississippi is first in our country, according to the Council on Economic Education, in providing students with an opportunity like this.  After the first year of YAD, we can confidently say it has been a big success,” commented Evelyn Edwards, Director of YAD, and Vice President of Community Reinvestment at BancorpSouth.

 MACS, part of College Savings Mississippi, is one of the state’s two 529 college savings programs that lets you save for education-related expenses such as tuition, books, room and board, etc.

 For more information on the College Savings Mississippi programs, please visit www.CollegeSavingsMississippi.com or call  601-359-5255. For more information on the YAD program or the Mississippi Council on Economic Education, visit www.mscee.org.

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The College Savings Mississippi Board added its newest member Tuesday, as Scott Carmichael was sworn in by Judge L. Joseph Lee. Carmichael is the Governor Appointed representative from the Third Congressional District.

The Clarion Ledger

Bryson Tucker can’t walk, talk or even crawl yet, but he’s already got a plan for college.

The 5-month-old has the first year of a four-year Mississippi university education paid. His mom, Tawana Tucker of Ridgeland, won a free year of college tuition for him in a random drawing sponsored by the Mississippi Prepaid Affordable College Tuition plan.

State Treasurer Tate Reeves, whose office oversees the MPACT program, recently presented a $4,691 check to Tucker. Bryson, was playing with a toy in his infant carrier.

Since learning of her win, Tucker, a nurse at the Veterans Administration Medical Center in Jackson, has started an MPACT account for Bryson – something she planned to do all along – to cover his other three years of college.

Tucker entered the contest, open from Sept. 1 through December, in December when she visited the Web site at a friend’s recommendation.

MPACT allows families to lock-in today’s college tuition prices regardless of future tuition increases, and the program is also guaranteed by the state.

To comment on this story, call Lucy Weber at (601) 853-9820.

February 4, 2010

Free Tuition

MPACT awards scholarship to infant

Lucy Weber
lweber@mcherald.com

Bryson Tucker can’t walk, talk or even crawl yet, but he’s already got a plan for college.

The 5-month-old has the first year of a four-year Mississippi university education paid for. His mom, Tawana Tucker of Ridgeland, won a free year of college tuition for him in a random drawing sponsored by the Mississippi Prepaid Affordable College Tuition (MPACT) plan.

“You don’t have any clue now, but you’ll be very pleased in 18 years,” State Treasurer Tate Reeves told Bryson, who was playing with a toy in his infant carrier. Reeves, whose office oversees the MPACT program, presented a check for $4,691 to Tucker last week.

Since learning of her win, Tucker, a nurse at the VA Medical Center in Jackson, has already started an MPACT account for Bryson – something she planned to do all along – to cover his other three years of college.

Tucker entered the contest, which was open from Sept. 1 through December last year, sometime in December when she visited the Web site at a friend’s recommendation to learn about the savings program for Bryson’s future.

“A friend who paid for her grandchild told me about the program. I was surfing the Internet and it was the perfect opportunity to check it out. I saw the contest and decided to enter,” Tucker said. “I’ve never won any contest.”

Her first win is now a blessing, she said.

“We always say he was a bundle of blessings even before he arrived,” Tucker’s sister Rochelle Culp said.

Tucker attended Mississippi College and then Jackson State University. What college Bryson attends when he is college-bound at age 18 is up to him. “He’ll have a long time to think about it,” his mom said.

“Maybe Mississippi State,” suggested Culp.

Tucker said she’s thankful for the free year of college and the chance to start saving for Bryson’s future, especially since the cost of tuition keeps rising almost every year.

“Can you image what tuition will be when Bryson gets there?” she said.

Reeves said the contest is intended to make more people aware of MPACT and its impact on the next generation.

“This is about affordability and accessibility to college for young people like Bryson. Given the recent volatility in the financial markets, there is no better way to invest your money,” he said.

“Hundreds of Mississippians entered our online tuition drawing, and I am pleased that we have the opportunity to provide this family with a gift that will pay huge dividends in the future. This is one way you can help secure your child’s future is through planning for their college education today.”

MPACT allows families to lock-in today’s college tuition prices regardless of future tuition increases, and the program is also guaranteed by the state. MPACT earnings are exempt from federal and state income taxes.

InTuition Systems, the records administrator for MPACT, donated the free year of senior college tuition.

Mom wins college tuition for 1 year for her son

Posted: Jan 27, 2010 8:05 PM CST Updated: Jan 27, 2010 8:06 PM CST

JACKSON, MS (WLBT) – A Ridgeland mom got a big jump on paying for her 5 month old’s college education. 

Tawana Tucker of Ridgeland and her son Bryson were presented with a check for more than $4,000 dollars from State Treasurer Tate Reeves. 

The Tuckers are the winners of an online contest for a free year of pre-paid college tuition. 

The contest was held this fall during the enrollment period for the M-PACT college savings program.   

It allows families to lock in today’s college tuition prices, regardless of any tuition increases. 

“Very impressive because this is what he’s going to need to make it, I’m so excited for him to have that and I was just telling them, tuition increases, I heard it on the news this morning so can you imagine what it’s gonna be 18 years from now when Bryson is ready to go to college, so I’m very excited about this moment,” said Tucker. 

Little Bryson Tucker has not picked a specific college just yet. His mom says she’s pushing for Mississippi College and Jackson State, the school she attended. 

The Tuckers say after winning the free year of tuition, they opened up their own M-PACT account to help pay for his education. 

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STATE TREASURER TATE REEVES AWARDS
ONE YEAR OF FREE COLLEGE TUITION

Tuition winner Tawana Tucker and her son, Bryson, accept the check from State Treasurer Tate Reeves.

Jackson, Miss (January 27, 2010) – State Treasurer Tate Reeves presented a check today for $4,691 to Tawana Tucker, of Ridgeland, Mississippi, who won a free year of senior college tuition for her infant son, Bryson. Tucker participated in a web site contest that was held during the enrollment period of the Mississippi Prepaid Affordable College Tuition (MPACT) plan, one of the state’s two college savings programs.

“Hundreds of Mississippians entered our online tuition drawing, and I am pleased that we have the opportunity to provide this family with a gift that will pay huge dividends in the future,” said Reeves. “One way you can help secure your child’s future is through planning for their college education today.”

“When Treasurer Reeves called to let me know I won, I didn’t believe him,” Tucker said. “What a great surprise! A year of college tuition with the MPACT program is such a wise investment for the future of my child. Education is the key to success today and it will be for Bryson too.”

Tucker also said winning the free year of tuition encouraged her to open additional MPACT accounts for her son.

“This is the beginning of a bright future for my son,” Tucker added.

MPACT allows families to lock-in today’s college tuition prices regardless of future tuition increases, and the program is also guaranteed by the State of Mississippi. MPACT earnings are exempt from Federal and State income tax. In addition, the purchaser is able to claim a tax deduction from Mississippi Income Tax.

“Making higher education more affordable and accessible for all Mississippians is essential for providing more opportunities for our children,” said Reeves. “Given the recent volatility in the financial markets, there is no better way to invest your money.”

InTuition Systems, the records administrator for MPACT, donated the free year of senior college tuition.

For more information regarding College Savings Mississippi, visit online at www.CollegeSavingsMississippi.com or call 800.987.4450.
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Thursday marks last day to sign up for alternate college-fund plan for next year:                                 Elizabeth Crisp • elizabeth.crisp@clarionledger.com • December 29, 2009

Chanda Vallarian’s children are years from going to college, but their tuition already has been paid.

“We just really felt it was best to get it out of the way,” she said. “It’s nice to say, ‘My kids are going to college and it’s paid off already.’ “

“It’s nice to know that we don’t have to worry about any increases.”

Vallarian and her husband, who live in Tupelo, signed up for the Mississippi Prepaid Affordable College Tuition program shortly after their children, now ages 7 and 5, were born. The college savings program allows parents and grandparents to pay off tuition costs through flexible plans and payment options.

“It’s imperative in Mississippi that we increase our education attainment levels,” said State Treasurer Tate Reeves, whose office administers MPACT. “This is a public program that helps people help themselves.”

It also provides a way to lock in tuition at current prices. Tuition at Mississippi’s public universities has gone up 12 times in the past 14 years. As state revenues continue to fall below expectations and funding for universities is slashed, it’s unlikely the tuition hikes will slow soon.

“I think it’s something most people see coming,” Reeves said. “With the budget outlook, tuition will most likely continue to rise.”

The state College Board is expected to discuss a potential three-year tuition increase plan at its meeting next month.

“I don’t see how we cannot do it,” College Board member Aubrey Patterson said at a recent board meeting about considering tuition increases.

Gov. Haley Barbour ordered a 5 percent cut to state higher education funding in September, and leaders have been told to brace for more before the end of the fiscal year.

Higher Education Commissioner Hank Bounds said he expects university budgets to shrink by 13 percent in the fiscal year that begins July 1 and 23 percent off current levels in the fiscal 2012 budget.

Citing the repeated string of increases and the economic burden to students, the College Board took a break from tuition hikes this school year but increased out-of-state fees, room-and-board rates and meal plans.

According to the Southern Regional Education Board, tuition and fees for Mississippi’s public universities have gone up 41 percent in the past 10 years. State higher education leaders point out that Mississippi universities are still a bargain.

“We have a very affordable system,” Bounds said.

The average in-state tuition rate for Mississippi’s public universities is below both the national and regional averages.

Mississippi is the fifth-least expensive among the 15 SREB states – falling behind only Florida, Louisiana, Georgia, Oklahoma and North Carolina.

But others say you can’t just look at the sticker price – you have to consider the state household income.

The National Center for Public Policy and Higher Education – a California-based, nonprofit, nonpartisan organization – gave Mississippi an “F” in affordability on its most recent higher education report card.

“Higher education has become less affordable for students and their families,” the center’s report states.

It shows that, on average, families must devote 23 percent of their income – even after aid – to pay for costs at Mississippi’s four-year public universities.

“Affordability is becoming an issue for many families in our state,” Reeves said.

The deadline to enroll in MPACT this year is Thursday.

Reeves said many families wait until the final days of the sign-up period, but already his office has seen more applicants compared with this time last year.

“I think anytime people start hearing about tuition increases, it generates more interest,” Reeves said.

Mississippi’s program is hailed nationally as being among the best of such programs in the country.

It’s guaranteed by the state, so Reeves said it’s one of the safest bets when the market is volatile.

Reeves’ office also administers the Mississippi Affordable College Savings program, which covers costs other than tuition and is not guaranteed by the state.

The Clarion Ledger: Deadline to offset higher tuition nears

 Jackson, Miss: (December 18, 2009) — State Treasurer Tate Reeves will soon be traveling the state reminding Mississippians of the deadline on a great opportunity for their children – December 31, 2009, is the deadline for the Mississippi Prepaid Affordable College Tuition (MPACT) applications.  Reeves will visit the cities of Meridian, Tupelo, Hattiesburg, Gulfport and Jackson.  

 “Now is the time to lock-in today’s prices for tomorrow’s students. Mississippi families have less than two weeks to get their MPACT applications in,” Reeves said.

With Christmas around the corner, an MPACT plan would provide a child or grandchild with a gift that keeps on giving. MPACT offers the chance to lock-in at today’s tuition prices, and provides a great way to save for college early and affordably.  Parents or grandparents can purchase between one and five years of college, and various payment options are available; including lump sum, annual and monthly installments.

 MPACT is also guaranteed by the State of Mississippi and can be claimed as a tax deduction on Mississippi Income Tax.

 “Given the financial and economic challenges facing our state, I believe our role in providing cost-effective college savings alternatives has never been more important,” Reeves added. “Proper planning by parents and grandparents early in a child’s life can make a significant difference when college draws near.”

 For more information regarding College Savings Mississippi, visit online at www.CollegeSavingsMississippi.com or call 1-800.987.4450.

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Register to win a Free Year of College Tuition from College Savings Mississippi!  Midnight tonight is the deadline to register, so don’t forget to visit  www.collegesavingsmississippi.com to sign up. Must be 18 or older to register. State Treasurer Tate Reeves will announce the winner soon! Good luck!!

Don’t forget to register to win a Free Year of College Tuition from College Savings Mississippi!  Visit the homepage of our website, www.collegesavingsmississippi.com to register to win. The deadline is midnight, December 15, 2009. Must be 18 or older to register.  Good Luck!

FOR IMMEDIATE RELEASE                               

 Mississippi State Treasurer Tate Reeves Urges Parents This Holiday Season to Give the Present That Funds Their Future: A College Education

 Jackson, MS, December 14, 2009 – With the holiday gift-giving season upon us, Mississippi State Treasurer Tate Reeves wants to remind Mississippi parents, grandparents and family members that College Savings Mississippi has a pair of affordable college savings solutions to consider as gifts.   Mississippi Affordable College Savings Program (MACS), Mississippi’s 529 college savings plan, and Mississippi Prepaid Affordable College Tuition (MPACT) plan, the State’s guaranteed prepaid tuition plan.

 “Mississippi parents and family members have a tremendous opportunity this holiday season to give a child the greatest gift of all – a brighter future,” Treasurer Reeves said. “Get into the holiday spirit with a gift that keeps on giving by opening an account through the College Savings Mississippi programs for the children you care about.”

 ”As higher education prices continue to rise, it is increasingly important that Mississippians start saving today by opening a college savings account,” said Reeves.  “By starting to save for college early, families can take advantage of the compounding effect of time on their investment, while at the same time receiving federal and state income tax benefits.”

 Mississippi account owners will receive a Mississippi income tax deduction for their contributions to MACS and MPACT Program accounts.  

 Contributions to MACS Program accounts are deductible from Mississippi taxable income up to a maximum of $10,000 for an individual filer and $20,000 for joint filers. Contributions made before April 15th also may be deducted on the prior year’s return. The contribution portion of a non-qualified withdrawal from an account that was previously deducted for Mississippi income tax purposes will be included in the recipient’s Mississippi gross income in the year of such withdrawal. 

 “Although MACS contributions through April 15, 2010, are eligible for a 2009 Mississippi state income tax deduction, consider increasing your investment potential by contributing before December 31,” said Michael P. Denny, CPA CFP at Grantham Poole, PLCC in Jackson, Mississippi.  

 Anyone can open an account for a beneficiary or contribute to a loved one’s MACS account.  Simply visit the MACS Web site, www.collegesavingsms.com, click on Family & Friends and select the Gift of Education Certificate you would like to print.  Complete the Certificate and then give your contribution check, payable to Mississippi Affordable College Savings Plan, along with the Certificate to your loved one.  Or call (800) 486-3670 and one of our college savings specialists will assist you.  Amounts as small as $25 can be used to set up an account. And contributions to an existing account can also be as small as $25.

All contributions and any earnings to a MACS or MPACT account are federal and Mississippi income tax-deferred, and distributions are also federal and Mississippi income tax-free when qualified withdrawals are made (See Disclosure Book for details). MACS funds may be used at virtually any private or public college nationwide, and the savings can be applied to tuition as well as other qualified expenses including fees, books, supplies and certain room and board costs.  MPACT pays full tuition at Mississippi public colleges and pays private or out-of state colleges based on Mississippi’s average tuition rates.

 For more information about College Savings Mississippi programs, MACS and MPACT, or to open an account, visit the website at www.collegesavingsmississipppi.com or call 1-800-987-4450.

 Consider the investment objectives, risks, charges and expenses before investing in the MACS or MPACT.  For detailed information on MACS please visit www.collegesavingsms.com for a Disclosure Booklet containing this and other information.  Read it carefully. For detailed information on MPACT please visit www.collegesavingsmississippi.com for College Savings Mississippi Contract Documents containing this and other information.  Prospective purchasers are urged to review those documents carefully.

 Before investing in a 529 plan, you should consider whether the state you or your beneficiary reside in or have taxable income has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.

 The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties.  It was written to support the promotion of the MACS Program.  Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

 Non-qualified withdrawals are subject to income taxes and the federal additional 10% tax.

 Account value for the Investment Options is not guaranteed and will fluctuate based upon a number of factors, including market conditions.

 © 2009 TIAA-CREF Tuition Financing, Inc. Program Manager.  TFI does not manage the MPACT program.  MPACT is administered through the Mississippi Treasury Department and directed by the College Savings Plans of Mississippi Board of Directors. 

 C46471

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Don’t forget to register to Win a Free Year of College Tuition from College Savings Mississippi! Simply go to our website, www.collegesavingsmississippi.com, and register to win the free year on our home page. You must be 18 years of age or older to register. The deadline to register is midnight, December 15, 2009. State Treasurer Tate Reeves will draw the winner soon after–Good luck!

Become our fan on Facebook and be registered to win a $250 gift card from Toys r’ Us in the month of December! This will be our 4rd Facebook giveaway, sponsored by Retriever Services (http://www.retrievernpc.com)! Just in time for Christmas! Join us on Facebook to enter…

To qualify, you must become our “fan” on Facebook by midnight, December 15, 2009. Official selection will take place on December 17, 2009. Winner will be selected at random from among our Facebook fans. Name of winner will be posted here on this blog as well as on our Facebook page. Click here to become a Facebook fan!

No purchase is necessary. Must be 18 years or older to enter. One entry per person, family or household. Void where prohibited by law. Employees of the Office of the State Treasurer, members of the MPACT Board of Trustees, also known as College Savings Mississippi, employees and agents of affiliated companies, advertising and promotional agencies, and immediate family members are ineligible. Winner is responsible for all local, state and federal taxes related to the prizes. By submitting an entry, entrants accept and agree to be bound by contest rules.

If at any time it is determined that the award of the contract or the designation of the beneficiary violates Mississippi law, the award may be rescinded.

Winner agrees cooperate and participate in promotions by College Savings Mississippi and agrees to permit their name and likeness to be used in such promotions.

NO PUBLIC FUNDS OR CONTRIBUTIONS TO THE MPACT TRUST FUND WILL BE USED FOR THE PURCHASE OF THIS AWARD.

Congratulations Lala Murphy of Brandon, MS for winning a $250 gift card to Toys ‘R Us!!!!!!  Check our fan page often for other giveaways.  We’ll be giving away another gift card in December.  So join us on Facebook!

Also, don’t forget to visit our website and register for a chance to win one FREE YEAR OF COLLEGE TUITION!

Become our fan on Facebook and be registered to win a $250 gift card from Toys r’ Us in the month of November!  This will be our 3rd Facebook giveaway, sponsored by Retriever Services (http://www.retrievernpc.com)!  Just in time for Christmas!  Join us on Facebook to enter…

To qualify, you must become our “fan” on Facebook by midnight, November 30, 2009. Official selection will take place on December 2, 2009. Winner will be selected at random from among our Facebook fans. Name of winner will be posted here on this blog as well as on our Facebook page.  Click here to become a Facebook fan!

No purchase is necessary. Must be 18 years or older to enter. One entry per person, family or household. Void where prohibited by law. Employees of the Office of the State Treasurer, members of the MPACT Board of Trustees, also known as College Savings Mississippi, employees and agents of affiliated companies, advertising and promotional agencies, and immediate family members are ineligible. Winner is responsible for all local, state and federal taxes related to the prizes. By submitting an entry, entrants accept and agree to be bound by contest rules.

If at any time it is determined that the award of the contract or the designation of the beneficiary violates Mississippi law, the award may be rescinded.

Winner agrees cooperate and participate in promotions by College Savings Mississippi and agrees to permit their name and likeness to be used in such promotions.

NO PUBLIC FUNDS OR CONTRIBUTIONS TO THE MPACT TRUST FUND WILL BE USED FOR THE PURCHASE OF THIS AWARD.