State Treasurer David McRae today announced S. Ray of Clinton, Mississippi, is the winner of a $1,000 College Savings Mississippi scholarship. The scholarship was part of a giveaway to encourage families to give the gift of a college fund this holiday season.
“The scholarship is greatly appreciated and my fellow Mississippians will be happy to know it will be spent within the state of Mississippi, as I plan to enter into Mississippi State in the fall of 2021,” said S. Ray upon receiving the scholarship. “It gives me a little less worry about money and more time to concentrate on grades.”
Through the State Treasury, Mississippi families can begin saving for college through two unique programs: MACS and MPACT. With MACS (Mississippi Affordable College Savings), families can open a tax-advantaged savings account and begin contributing for as little as $25 per month. With MPACT (Mississippi Prepaid Affordable College Tuition), individuals can lock in today’s tuition rates and prepay a student’s tuition.
“Our hope is that this scholarship can give a boost to the Ray family’s college savings plans,” said Treasurer McRae. “College debt can delay major milestones in a young person’s life, impacting when they buy their first home or start their family. Giving students a financial boost with a college savings plan can lift that burden and help them achieve their God-given potential.”
“We knew the tax advantages with College Savings Mississippi were good, but we never thought we could actually win the $1,000 scholarship,” said K. Ray, the scholarship recipient’s father. “As a parent who tries to save for their kid’s college, it was great to hear she had won.”
To learn more about the college savings plans offered by the Mississippi Treasury, visit Treasury.MS.gov/CollegeSavings