Get the MOST for College

EMissourian.com

By: Clint Zweifel, Missouri State Treasurer

Friday, September 4, 2009

To The Editor:
Today we are promoting College Savings Month in Missouri. I understand how today's difficult economic challenges affect us all, which is why we have made it easier and more affordable to invest now in your children's future. 

Missourians thinking about sending a child to college should consider the advantages of investing in MOST - Missouri's 529 college savings plan. It is a smart and affordable way to save for college.

With the MOST 529 plan, you can start saving with as little as $25, and you can make additional contributions of $25 or more whenever you like.

Your contributions and earnings grow free of federal and Missouri state income taxes, and can be withdrawn tax-free when used for the beneficiary's qualified higher-education expenses.

You can choose from a variety of investments through Vanguard and Missouri-based American Century Investments that match your family's goals and comfort level.

Consider this: A $50 investment made each month into a MOST 529 plan from the time a child is born to age 18 could accumulate to $16,633. That certainly would help offset the expenses of tuition, room and board and books. This is based on a 5 percent annual return, not guaranteed but shows the power of small investments. 

You don't have to invest large sums of money to make a real impact on a child's life. This hypothetical example does not represent the return on any particular investment. The final account balance does not reflect any taxes or penalties that may be due upon distribution. 

I encourage you to find out more about the plan by visiting www.most529savings.com or calling 1-800-962-5168.

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