By Treasurer David McRae Your Treasury is heading back to the Trade Mart this week for the State Fair, and we couldn’t be more excited! Our Unclaimed Money and College Savings teams will be there, ready to assist you from 11AM to 5PM every day of the Fair (except Sunday). If meeting our team isn’t enough reason to stop by, … Read More
McRae: Every Little Bit Counts
Even though gas prices have eased a bit, the pressure on our wallets seems unrelenting. Food costs remain 11 percent higher than last year, energy costs are up 24 percent, and other household items are up 8 percent, according to the Consumer Price Index’s August 2022 report. When it seems as though there are so many forces fighting our finances, … Read More
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
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
Let’s Play Ball!
Scoring a college degree is a home run for your future! That’s why my College Savings Mississippi team and I are handing out $4,500 worth of scholarships at Trustmark Park this weekend (May 26-27). Please visit our College Savings tent on the concourse before each championship baseball game and you could score as much as $500 in scholarship money! If … Read More
College Savings Deadline Approaching
Dear Friends, Last week, seven of Mississippi’s eight public colleges announced tuition increases, with the only exception being Jackson State University. These annual tuition hikes seem to be more and more of the norm. And without question, the rising prices have left many students deeper and deeper in debt. In fact, the average Mississippi graduates with $30,000 worth of student … Read More
Treasurer McRae Announces 2022 Art Contest Winners
David McRae today announced the 2022 College Savings Mississippi Art Contest winners with a reception at the Mississippi Museum of Art. Twelve students and one teacher took home a combined $3,500 worth of scholarships during the event. “In these students’ artwork, we saw the beauty of their creativity, but also a snapshot of their dreams,” said McRae. “I am excited … Read More
McRae: Lock in today’s tuition rates
College costs have increased 160 percent since 1980. Today, between tuition, room and board, books, and other expenses, a college education typically costs families around $27,000 annually for a public, in-state university and $55,000 annually for a private education, according to a 2021 College Board report. As a result, most rely on hefty loans that take years – if not … Read More