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.”