“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”
Jefferson City, MO — Kicking off College Savings Month, Missouri State Treasurer Scott Fitzpatrick announced a partnership with former state treasurer and now Office of Administration Commissioner Sarah Steelman to encourage saving for education. Commissioner Steelman will join the Treasurer in sharing opportunities to learn about the benefits of a MOST 529 plan to state employees across Missouri.
“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. “This is why I have worked to lower the price of the plan and to make it as versatile as possible. While COVID-19 has likely impacted the ability for many Missourians to save for future education right now, providing access to savings options remains important as we recover and move forward.”
“The MOST 529 plan was new when I was state treasurer—and it is wonderful to see how it has grown over the past 15 years,” Commissioner Steelman said. “But there’s always more work that can be done. I’m proud to partner with the Treasurer’s Office to ensure all state employees have access to information about saving for education—whether K-12 tuition, trade school, college, or graduate school.”
State employees will receive information about the MOST 529 Education Plan including access to webinars. The Treasurer’s Office and MOST 529 staff are also working with employers across the state to provide webinars about program benefits to their employees.
Missourians who wish to learn about saving for education—and using a MOST 529 to save money on K-12 tuition—can attend free webinars on Tuesdays and Thursdays throughout September. Information about registering can be found here.
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 trade, college, and graduate school tuition and expenses. Contributions are eligible for state tax deductions, which can save families up to $864 a year, and assets in MOST 529 accounts grow tax-free.
More information about MOST 529 can be found here.