Parents know first-hand the importance of investing in their children’s future. In today’s increasingly complex and highly technical world, education beyond high school is an increasing necessity to assure our children have every opportunity to meet their personal, economic and career potential.

As Missouri’s Treasurer, it is my privilege to oversee a remarkable program that is specially designed to help parents prepare to meet the costs of higher education for their children.

This plan is the Missouri Saving For Tuition Program, or MOST, plan. MOST is a qualified tuition program established under Section 529 of the Internal Revenue Code. MOST is designed to help people save for the costs of education after high school. Currently, federal and Missouri tax benefits enhance the value of investing in the Program.

I am especially delighted that Missouri is among the states that offer a state income tax deduction for contributions to MOST. As the owner of a MOST account, you are able to make a deduction for contributions of up to $8,000 per year per taxpayer from your Missouri income taxes.

Contributions can grow free from federal and Missouri income tax until withdrawn. When it is time for your child to go to college, withdrawals used for qualified higher education expenses, including any earnings your investments may have yielded – also will be exempt from federal and Missouri income taxes.

The costs of higher education are significant for all of us, and prove challenging for growing families. MOST is especially helpful because initial and continuing contribution amounts of as little as $25 will enable you to begin and continue saving for your child’s future through this program.

College Tuition Calculations