A day to promote the importance of saving for college
For the sixth year, the Office of State Treasurer Lynn Fitch and Mississippi Children’s Museum (MCM) will be celebrating September as National College Savings Month by partnering on Saturday, September 8th to promote strategic ways children and families can save for educational expenses.
All day on September 8, 2018, admission to the MCM for all guests will be only $5.29. Staff from both the College Savings Mississippi at the Treasurer’s office and MCM will be at the museum leading financial literacy activities and helping children build their own savings banks. The Treasurer’s office will also share information with parents about signing up for a 529 college savings plan. Families will also be invited to enter a drawing to win one of two $529 college savings scholarships.
MCM President Susan Garrard notes, “We are very excited about our partnership with the State Treasurer’s office in the crucially important work of preparing families and children for college tuition costs. Everything we do is centered around providing and advocating for opportunities for children in Mississippi. We know how critical access to higher education is in determining life trajectories for our students and we appreciate the State recognizing us as a principal partner in this effort.”
“With the new expansion of 529 college savings plans, families now have the opportunity to not just save for college but also for elementary and secondary tuition expenses, as well,” said Treasurer Lynn Fitch, “All of us at College Savings Mississippi look forward to helping Mississippi families expand their saving opportunities and meet all their education goals. With 529 plans, all your education dreams can be affordable for every size budget. 529 Day at the Mississippi Children’s Museum gives parents and children the opportunity to learn more about building that foundation for their future in a fun, interactive learning environment.”
A 529 plan, named for its section of the federal tax code, is an educational savings plan operated by a state or educational institution designed to help families prepare and save for future education costs. In Mississippi, State Treasurer Lynn Fitch’s office offers two plans through College Savings Mississippi: MPACT, the Mississippi Prepaid Affordable College Tuition program, and MACS, the Mississippi Affordable College Savings program. Both over tax advantages to help stretch your savings dollar.
MPACT is a prepaid tuition plan that prepays the cost of tuition and mandatory fees, protecting against the future rise in college tuition. MACS helps Mississippi families save for future college expenses such as tuition, books, laptops, supplies, and certain room and board expenses. Under the tax reform package passed by Congress in December 2017, MACS can also be used for up to $10,000 per year for elementary and secondary tuition expenses at private, religious, and public schools.
About the Mississippi Children’s Museum
The Mississippi Children’s Museum (MCM) is a 501(c)3 nonprofit organization that provides unparalleled experiences that ignite a thirst for discovery, knowledge and learning in all children. MCM is dedicated to inspiring Mississippi’s children from all backgrounds to discover and achieve their potential. The museum features 40,000 square feet of exhibit space designed around five primary initiatives: Literacy, STEAM, Health and Nutrition, Cultural Arts and Mississippi Heritage. The museum’s exhibits, programs, and outreach opportunities provide engaging, explorative, hands-on educational activities for children of all ages. To learn more about MCM visit www.mschildrensmuseum.org.
About the Office of the State Treasurer Lynn Fitch
The Office of the State Treasurer safeguards and manages Mississippi’s financial resources, overseeing the wise investment of funds and searching for new opportunities to enhance the State’s economy. The State Treasurer is elected to oversee programs critical to the fiscal health of the State and the financial wellbeing of its people. The Office of the State Treasurer is responsible for the management of State debt, and the receipt, disbursement, and investment of state funds. The Treasurer also manages programs that affect Mississippians on a personal level, including the return of unclaimed property to its rightful owners and College Savings Mississippi.
For more information on the savings options offered through College Savings Mississippi or to read the rules for the scholarship drawing to be held September 8, 2018 at the MCM, visit www.TreasurerLynnFitch.com.
Treasurer Lynn Fitch Press Release