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Savings Being Encouraged During College Savings Month

September is College Savings Month, and the Missouri Department of Higher Education & Workforce Development has announced a partnership with the Missouri State Treasurer’s Office to encourage saving for higher education.

Throughout September, the department will join the Treasurer in sharing opportunities to learn about paying for higher education and the benefits of a MOST 529 plan.

In partnership with Sallie Mae and the MOST 529 Education Plan, Treasurer Fitzpatrick and Jessica Duren, MDHEWD assistant commissioner of communications & outreach, will host a How to Find Free Money and Save for College webinar focused on providing information about saving for higher education and finding scholarship opportunities, which will take place on Tuesday, September 21, 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.

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. 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.

Missourians can also visit Treasurer Fitzpatrick’s Financial Literacy Portal for information about saving and paying for higher education, as well as games and activities focused on financial literacy for children and high schoolers.

 


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