FOR IMMEDIATE RELEASE
Friday, May 31, 2013
MOST 529 Matching Grant Program accepting applications throughout the month of June
Approximately $125,000 in Matching Grant Program funds available
JEFFERSON CITY - State Treasurer Clint Zweifel (ZWY-ful) announced today the MOST 529 Matching Grant Program* will be accepting applications starting June 1, 2013. The applications must be postmarked no later than June 30, 2013 to be eligible for consideration. The program awards qualified Missouri college savers a dollar-for-dollar match on their 2013 contributions to a MOST 529 account, up to $500. Approximately $125,000 in MOST 529 Matching Grant Program funds is available this year on a first-come, first-served basis.
“Saving for college can be overwhelming and every little bit helps,” Treasurer Zweifel said. “The MOST 529 Matching Grant Program helps Missouri families save a little more for the higher education of Missouri’s children.”
To qualify for the program:
You can find the application at www.most529grant.org. All applications must be postmarked by June 30, and applicants will receive notification of acceptance or denial by August 31. This year’s funds will be distributed into MOST 529 matching grant accounts by January 31, 2014. Applications from 2012 will not automatically roll over to this year—you will need to submit a new application for 2013.
In 2012, more than 2,100 Missourians applied for the program, and $131,000 in privately-funded matches were distributed to those who qualified.
MOST 529 accounts can be used toward eligible colleges, vocational schools or technical schools.
“Higher education helps provide our children with greater opportunities, preparing them for our changing job force with desirable skills,” Treasurer Zweifel said. “Just starting a college savings account can make a huge difference in the life of a child, showing you believe they will do great things and want to prepare for their future.”
To learn more about the MOST 529 Matching Grant Program, or to open a MOST 529 account, visit www.most529grant.org or call 800-992-8790.
The MOST 529 Matching Grant Program is not state-funded.
Investment returns are not guaranteed, and you could lose money by investing in the Plan.
* Matching Grant Program funds are limited and will be distributed on a first-come,
first-served basis in the order in which applications are received. Matching grants are dependent upon funding limitations, as overseen by the Missouri Higher Education Savings Program Board, and there is no guarantee of the continued operation of the MOST 529 Matching Grant Program.
** Individuals who applied and were approved (regardless of whether they received Matching Grant Program funds in 2012) and whose child was 13 years of age in 2012 are still eligible to apply in the 2013 cycle.
If you are not a Missouri taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.
The Missouri Higher Education Savings Program (the "Program Trust") is a trust created by the State of Missouri. When you invest in MOST—Missouri's 529 College Savings Plan (the "Plan"), you are purchasing portfolio units issued by the Program Trust. Portfolio units are municipal securities. The Plan has been implemented and is administered by the Missouri Higher Education Savings Program Board. Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations, including effecting transactions. The Vanguard Group, Inc. serves as Investment Manager for the Plan. Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., markets and distributes the Plan. The Plan's portfolios, although they invest in mutual funds, are not mutual funds.
Neither the Vanguard Group Inc. nor its affiliates make a determination or have any obligation to make a determination about the criteria and eligibility for the MOST Matching Grant Program.
- Applicants must have an existing MOST 529 Plan account or must open one at the time of the application. Go to www.MissouriMOST.com to open an account.
- Applicants must be a parent or legal guardian of the beneficiary.
- Both the account owner and beneficiary must be Missouri residents.
- The beneficiary must be age 13 or younger at the time the first matching grant application is approved.**
- The account owner's 2012 Missouri household adjusted gross income must be $74,999 or less.