PRESS RELEASE
Treasurer Fitzpatrick Recognizes College Savings Month
Jefferson City, MO — Missouri State Treasurer Scott Fitzpatrick
today recognized September as College Savings Month. Sponsored by the College
Savings Plans Network (CSPN), College Savings Month seeks to promote the
importance of saving for higher education using a 529 account. “Data demonstrates that having
an education savings account makes it more likely a child will attend a higher
education institution. Data also shows that education influences socioeconomic
mobility,” Treasurer Fitzpatrick
said. “As Treasurer, I have worked to lower accounts fees and to make MOST,
Missouri’s 529 Education Plan as versatile as possible. Regardless of what
higher education looks like for you—college, trade school, an
apprenticeship—being financially prepared is necessary to avoid burdensome debt
down the road.” Administered by the Treasurer’s
Office, MOST, Missouri’s 529 Education Plan, is a tax-advantaged savings plan
for education expenses. Money in MOST accounts can be used to pay for K-12
tuition and apprenticeships, trade, college, and graduate school tuition and
expenses, and up to $10,000 of student loan repayment. Contributions are
eligible for state tax deductions and assets in MOST 529 accounts grow
tax-free. In partnership with the MOST 529
Education Plan and Sallie Mae, Treasurer Fitzpatrick will host a webinar
providing information about saving for higher education and finding scholarship
opportunities. Maximizing Your Money While Paying for Higher Education will
take place on Wednesday, September 28 at
6 p.m. The free virtual event will
feature speakers from Sallie Mae, a nationwide consumer banking institution
specializing in private student loans, and MOST, Missouri’s 529 Education Plan.
Those who wish to participate
can register here. Missourians can also visit
Treasurer Fitzpatrick’s Financial Literacy Portal for information about saving
for higher education and paying for higher education, as well as games and
activities focused on financial literacy for children and high school students.
Information for adults and recent college graduates about understanding credit,
budgeting, and retirement is also available on the portal. The Financial
Literacy Portal can be accessed at https://treasurer.mo.gov/financial-literacy/. According to CSPN, Americans
have more than $450 billion saved in 529 accounts. More information about MOST 529
can be found missourimost.org. ###
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