McRae: MPACT enrollment closing May 31
Note: The following column is provided by Mississippi State Treasurer David McRae. Any opinions expressed in this article are that of the author and not necessarily that of this publication.
By Treasurer David McRae
Tis the season for spring concerts and science fairs, end-of-year projects and graduation party prep. Yes, summer break is looming for many (and our kids can’t wait!) With the end of each school year, however, comes the end of the Mississippi Prepaid Affordable College Tuition (MPACT) open enrollment period.
On May 31, MPACT enrollment will conclude for the season. And while that closing date is coming quickly, you do still have time to lock in today’s tuition rates before new (and potentially higher) rates are released in September.
But don’t let me get ahead of myself! I know many reading this may still be asking themselves: What is MPACT again? This is a college savings program, backed by the State of Mississippi, that allows families to lock in today’s tuition rates, protect themselves from years of college rate hikes, and prepay their child’s education.
Since becoming State Treasurer, I have spoken to countless families who have benefited from this program, putting their child through college without taking out a loan or a second mortgage.
While families can enroll their child at any age, those who begin the program while their child is young can take advantage of the lowest monthly payments. In fact, community college plans for today’s kindergarten students start at just $43 per month (less than a cell phone bill!)
Grandparents are also eligible to set up accounts for their grandchildren (even grandchildren who live outside of Mississippi). It’s an excellent opportunity to build a legacy that will benefit your family for generations.
I was raised on the idea that we must leave our world better than we found it, and in some small way, that’s exactly what an MPACT plan does by giving more Mississippi children the opportunity to pursue their potential.
As you prepare to wrap up this school year, please take a moment to lock in your family’s tuition rates. For more information (including pricing, commonly asked questions, and program details), visit Treasury.MS.gov/MPACT.
Have questions beyond that? Email my team at CollegeSavings@treasury.ms.gov or call (601) 359-5255!
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 Savings Mississippi, and has returned more than $85 million in unclaimed money to Mississippians. For more information, visit Treasury.MS.gov.
