Saving for college is on the minds of a lot of parents as their children head back to school. State Treasurer Clint Zweifel wants Missourians to remember the MOST 529 program can help them do that.
529 plans are usually sponsored by a state and help families save for higher education and can pay for tuition, books and room and board fees. They can be started for as little as $25.
Zweifel this time of year, college savings are on the minds of a lot of parents. “Back to school is an important time. It’s an important time also as we get toward the end of the year and December as people begin thinking about financial planning for the coming year.”
Zweifel says paying for college can be a shock to those who haven’t dealt with it for a while, but even moreso for those who have never done it before.
“Think about the experience that many Missourians have, which is what I had, I was the first person in my family to walk onto a college campus and attend college. So, think about the challenges for those families that don’t understand the network that exists, don’t understand all the tolls that exist. If it’s hard for the families that have experience with college, it’s even harder for those that haven’t.”
Even in recent years that have been marked by a tight economy, Zweifel says Missourians have continued to build on their MOST accounts. “We now have about $1.8 billion in assets. 135,000 Missourians are saving for college using MOST.”
Find more information on the Treasurer’s website.