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5 COLLEGE SAVINGS TIPS from your State Treasurer, David McRae
Tip #1: Take Advantage of Compound Interest Albert Einstein once described compound interest as the “eighth wonder of the world.” But what is it? Well, compound interest is when you add the earned interest back into your principal balance, which then earns you even more interest, increasing your returns. In other words, with compound interest, you’re not just earning money on your … Read More
Facts to Consider About Loan Forgiveness & Paying for College
By Treasurer David McRae The President’s loan forgiveness plan is controversial. Some argue that if the federal government has bailed out corporations in the past and provided trillions in pandemic relief, we should be able to afford to forgive some student loans. Others believe if you borrow money, you should pay it back, that gainful employment is the only loan repayment … Read More
McRae: Open Enrollment for MPACT Has Begun
By Treasurer David McRae September is College Savings Month. Enrollment opened on September 1 for families who want to prepay college tuition for a child, grandchild, or loved one. The Mississippi Prepaid College Tuition (MPACT) plan allows families to lock in today’s rates for future college tuition costs. With inflation skyrocketing, and college tuition costs going up even more than … Read More
Open Enrollment for Mississippi’s Prepaid Affordable College Tuition Program Begins Today, September 1
Families can prepay and lock in today’s rates for future college tuition costs Enrollment is now open from today, September 1, 2022, through May 31, 2023, for families who want to prepay college tuition for a child, grandchild, or loved one. This plan allows families to lock in today’s rates for future college tuition costs. Treasurer David McRae said, “With inflation … Read More
David McRae Re-Elected Vice President of National Association of State Treasurers
Mississippi Treasurer David McRae was re-elected unanimously yesterday as Vice President of the National Association of State Treasurers (NAST). McRae is the 55th Treasurer of the State of Mississippi. In this role, he helps manage the state’s cash flow, oversees College Savings Mississippi, and has returned more than $55 million in unclaimed money to Mississippians. “It’s an exciting opportunity to … Read More
Back to School 2022
Welcome back to school! Our three children are excited to be back in school and are off to a great start, and I hope all of your families are also adjusting well to new schedules. The Mississippi Department of Education has back-to-school information and resources for students and families available for you to access online at mdek12.org. This also seems … Read More
McRae: The Inflation Reduction Act Will Not Reduce Inflation
By Treasurer David McRae Congress has passed the $737 billion deceptively named Inflation Reduction Act. Democrats nationally are jubilant about their success after struggling for months to pass even a slimmed-down portion of President Biden’s vision for higher taxes, a Green New Deal, and other social policies. What does it accomplish and what does it mean for you? Well, let’s … Read More
McRae: ESG Presents A Slippery Slope
By David McRae, Mississippi Treasurer You may have heard — and I have written previously — about the ESG movement. ESG stands for environmental, social, and governance. In business and investing, ESG is supposed to be a method of rating and evaluating how sustainable and ethical various companies are, but in practice, it is a political football that unjustly cherry picks winners and … Read More
McRae: The National Debt is a Growing Threat
By Treasurer David McRae In a previous column, I outlined the process by which we might amend the U.S. Constitution with a Balanced Budget Amendment. To expand on that, I want to share more information about our exploding federal debt and what it could mean for America’s future if we do not act now to get it under control. In … Read More