Governor Haley Barbour Declares September As “College Savings Month”
(Meridian, Mississippi) –State Treasurer Tate Reeves today, surrounded by hundreds of fifth graders at Poplar Springs Elementary School, kicked off the Mississippi Prepaid Affordable College Tuition Program (MPACT) enrollment period. From September 1 through December 31, 2010, Mississippi families can lock in today’s tuition rates for tomorrow’s college students.
“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.