by MBJ Staff

Published: September 22,2011

Tags: college, education, higher education, state government, university

JACKSON — With over $114 million invested and more than 10,000 Mississippi Affordable College Savings Plan (MACS) accounts as of Sept. 1, the program is now offering lower fees for the 529 college savings plan, according to State Treasurer Tate Reeves.

Effective yesterday, MACS fees were reduced by as much as 27 percent. MACS now offers fees as low as 0.65 percent.

“During our contract negotiations, we extended our relationship with TIAA-CREF Tuition Financing Inc., and we were able to acquire fee reductions that will benefit existing and future MACS customers,” Reeves said.

In addition to lower fees, MACS has also launched a new website, www.MS529.com, with improved navigation, a new look and new features to make managing accounts easier. Account owners may now manage their account online, make online withdrawals and elect e-delivery of statements and disclosure materials.

MACS has also updated its logo. The new MACS logo complements the branding for College Savings Mississippi – the overarching program that offers MACS and Mississippi’s pre-paid college savings program, MPACT.

The State of Mississippi offers both MACS and MPACT to provide Mississippi families two unique ways to save for college.

JACKSON, MS (WLBT) -

Parents now have more reason than ever to start saving for their child’s higher education.  The Mississippi Affordable College Savings Plan (MACS), the state’s college saving accounts, are now offering lower fees.  State Treasurer Tate Reeves made the announcement Wednesday.

The 529 savings plan now offers fees as low as .65 percent. That’s down 27 percent.  Lower fees gives account owners the opportunity to put more of their money toward college expenses.

So far, families have invested more than $114-million into the MACS program.

Copyright 2011 WLBT. All rights reserved.

(JACKSON, MS) – Mississippians now have a bigger incentive to start saving for their loved one’s college education, State Treasurer Tate Reeves announced today.  With over $114 million invested and more than 10,000 MACS accounts, as of September 1, 2011, the success of MACS allows the program to offer new lower  fees for our 529 college savings plan.  Effective September 21, 2011, MACS fees were reduced by as much as 27%.  MACS now offer fees as low as 0.65%.  Lower plan fees means MACS account owners have the opportunity to put more of their money toward future college expenses.

“During our contract negotiations, we extended our relationship with TIAA-CREF Tuition Financing, Inc., and we were able to acquire fee reductions that will benefit existing and future MACS customers,” Reeves said. “This is welcomed news for Mississippi families who are saving for college.”

In addition to lower fees, MACS has also launched a new website, www.MS529.com, with improved navigation, a new look and new features to make managing accounts easier. Account owners may now manage their account online, make online withdrawals and elect e-delivery of statements and disclosure materials.

MACS has also updated its logo.  The new MACS logo complements the branding for College Savings Mississippi – the overarching program that offers MACS and Mississippi’s pre-paid college savings program, MPACT. The state of Mississippi offers both MACS and MPACT to provide Mississippi families two unique ways to save for college.

“The College Savings Mississippi Board is committed to providing families with a low-cost flexible 529 college savings plan to help them prepare for their loved one’s college education,” said Reeves.  “Lower fees could be a big help to parents with existing accounts and we hope the reduced fees will make the plan even more attractive to those who haven’t yet opened a 529 college savings account.”

The Mississippi Affordable College Savings Plan (MACS) is a 529 plan, named after the Internal Revenue Service Code section that allows each state to establish its own college savings plan.  MACS provides a tax advantaged, affordable and convenient way to save.  For more information about MACS or to open an account, visit the website at www.MS529.com or call 1-800-486-3670.

 MPACT is administered and managed by the College Savings Mississippi Board.  MACS is administered by the College Savings Mississippi Board and managed by
TIAA-CREF Tuition Financing, Inc.

Consider the investment objectives, risks, charges and expenses before investing in MACS.  For detailed information on MACS please visit www.MS529.com for a Disclosure Booklet containing this and other information.  Read it 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. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Account values in the Investment Options are not guaranteed and will fluctuate based upon a number of factors, including general market conditions. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax.

TIAA-CREF
Tuition Financing, Inc. Plan Manager. C993

JACKSON — The state treasurer’s office says this year’s enrollment period is open for a state-sponsored college savings plan in Mississippi.

The sign-up period for the Mississippi Prepaid Affordable College Tuition plan started Sept. 1 and runs through Dec. 31.

MPACT allows participants to lock in today’s college tuition rates for students who still might be years away from going to college.

It is guaranteed by the state to cover the cost of college tuition and mandatory fees at Mississippi’s public community colleges or universities, or the benefits can be used for private or out-of-state schools. Earnings are exempt from federal and state income tax.

WXVT

Ya’ll Politics

Thursday, September 8, 2011

JACKSON, MS (WLBT) -
Governor Haley Barbour has declared September “College Savings Month”.

Wednesday, State Treasurer Tate Reeves marked the occasion by kicking off the enrollment period for the Mississippi Prepaid Affordable College tuition program or MPACT.

Reeves was surrounded by hundreds of Madison Station Elementary School students to announce that September 1st through December 31st, Mississippi families can lock-in today’s tuition rates for tomorrow’s college students.

Reeves said, “It’s a factor that tuition has risen in our state and virtually every other state over the last 10 to 20 years and so affordability and accessibility of a college degree is becoming an issue for many of these kids and their parents and their grandparents, so what we try to do is stress to them the importance of education, but also the importance of starting to save early.”

WLBT
9/7/11

JACKSON, MS (WLBT) -

Governor Haley Barbour has declared September “College Savings Month”.

Wednesday, State Treasurer Tate Reeves marked the occasion by kicking off the enrollment period for the Mississippi Prepaid Affordable College tuition program or MPACT.

Reeves was surrounded by hundreds of Madison Station Elementary School students to announce that September 1st through December 31st, Mississippi families can lock-in today’s tuition rates for tomorrow’s college students.

Reeves said, “It’s a factor that tuition has risen in our state and virtually every other state over the last 10 to 20 years and so affordability and accessibility of a college degree is becoming an issue for many of these kids and their parents and their grandparents, so what we try to do is stress to them the importance of education, but also the importance of starting to save early.”

MPACT earnings are tax exempt and contributions are fully deductible from state income tax. 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.

Video can be seen of the event:    http://www.wlbt.com/story/15414467/reeves-touts-mpact

Copyright, WLBT News, 2011.  All Rights Reserved.

 Governor Haley Barbour Declares September As “College Savings Month”

(Jackson, Mississippi) –State Treasurer Tate Reeves today, surrounded by hundreds of elementary children at Madison Station Elementary School, kicked off the Mississippi Prepaid Affordable College Tuition program (MPACT) enrollment period. From September 1 through December 31, 2011, 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 allows families the opportunity to 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.