State Treasurer David McRae issued the following statement.
State Treasurer David McRae today shared that Forbes has listed the Mississippi Affordable College Savings program as the sixth best 529 program in the country.
"We’re building a program that reflects today’s economy, where success isn’t limited to a four-year degree, but includes certifications, technical training, and workforce credentials that lead to good-paying jobs right here in Mississippi,” said McRae. “I thank Forbes for the recognition and look forward to helping the same kids benefiting from the Mississippi Miracle find the financial footing to pursue a career of their choice."
Treasurer McRae has made significant changes to the College and Career Savings program since taking office in 2020. Specifically, he expanded the ability for families to use the funds on job-centric training (rather than just a four-year degree). This means the funds saved can be used for apprenticeships, certifications, and classroom supplies, as well as for K-12 and university tuition.
Additionally, the Treasurer modernized the program, allowing families to contribute using Venmo, PayPal, and crypto while also having access to a debit card to expend the funds more easily.
With these changes in place, the program has grown significantly, now serving 23,000 Mississippi families.
Read the Forbes article here. For more information about the Mississippi College and Career Savings department, Mississippi residents are invited to visit treasury.ms.gov/
3 comments:
The government should pay for students college tuition not there parents
As a MACS participant, this rating is not accurate. Our Admin fees are substantially higher than the better tier programs. The plan is administered by an administrator no one has ever heard of (Catalis). The website is outdated and withdrawal options on the site don’t reflect the plan’s updated guide to benefits/changes in 529 law. Let’s start by changing the high fee Administrator! This alone would save plan participants millions. Most aren’t aware of the difference in admin fees from our state compared to a state like Utah’s my529. The good of MS529 has more to do with the state law than the plan itself (tax deduction).
Parents and Colleges that allow young people to go into debt should be horse whipped. Imagine starting life with 100000 in debt and can't find a job related to your degree in this fine state. Some of these kids will never recover.
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