The Mississippi Prepaid Affordable College Tuition Plan, MPACT, is Mississippi’s prepaid tuition plan that locks in current tuition rates. MPACT offers tuition plans for universities, community colleges or a combination of the two. MPACT also offers flexible payment plans including lump sum, annual payments, monthly payments, or a partial down payment followed by monthly or annual payments. The flexibility in payment options makes MPACT affordable for all Mississippians.
MPACT is the only 529 prepaid tuition plan available that is guaranteed by the State of Mississippi. Also, payments made to an MPACT plan are deductible for Mississippi income tax purposes and earnings are exempt from federal and state income tax.
The MPACT Program will open to new enrollees in the Fall of 2014. The College Savings Plans of Mississippi Board of Directors deferred enrollment in August 2012 to perform an actuarial audit. The Board is currently implementing recommendations resulting from the audit. Check back for more updates.
Notice to current MPACT plan purchasers:
The MPACT program is backed by the full faith and credit of the state of Mississippi. The state will honor all MPACT contracts in accordance sections 37-155-1 to 37-155-27 of the Mississippi Code.