McRae: A new back-to-school routine

By Treasurer David McRae

It’s hard to believe, but the back-to-school rush is already here. New backpacks. Fresh supplies. New routines. All are due in just a matter of weeks.

One routine that often gets overlooked this time of year is saving for your child’s future education. According to the National Skills Coalition, about 84% of jobs in Mississippi require some form of training beyond a high school diploma. That means most young people will need to pay for a certification, trade program, or college degree after graduation. That’s where the Mississippi College and Career Savings programs can help.

No matter what your child’s dreams may be, there’s a plan designed to fit. For example, students pursuing careers as mechanics, Certified Nursing Assistants, or welders may benefit from the MACS program. This tax-advantaged savings account can be used on everything from the tools needed for apprenticeships to actual tuition costs.

For students aiming for a four-year degree, the MPACT program offers another smart option. It allows families to lock in today’s tuition rates and pre-pay for college, a valuable way to protect against future price increases. Enrollment for the 2025-26 pricing period opens Sept. 1.

Unfortunately, education costs aren’t slowing down. Since the 2000s, tuition expenses have more than doubled, according to the Education Data Initiative. And this year alone, the cost of school supplies has risen by about $200.

As parents, we all want what’s best for our children. While we can’t control rising prices, we can help shield our kids from some of the burden by planning ahead.

These are big investments, and my team is here to help. If you have questions about either program, call us at 800-987-4450. We’ll walk you through your options and help you find the best fit for your family.

The start of a new school year is the perfect time to start a new habit. Consider contributing just $25 a month to a MACS account for your child or starting an MPACT payment plan. (And teachers: MACS funds can even be used for classroom supplies!)

With all this in mind, I want to wish all students, teachers, and families a safe, successful, and inspiring school year ahead!

Mississippi Treasurer David McRae is the 55th Treasurer for the State of Mississippi. In this role, he helps manage the state’s cash flow, oversees College and Career Savings Mississippi, and has returned more than $140 million in unclaimed money to Mississippians. For more information, visit Treasury.MS.gov.