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
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
State Treasurer Extends MPACT Open Enrollment Period to July 15
State Treasurer David McRae today extended the open enrollment period for the Mississippi Prepaid Affordable College Tuition Plan (MPACT) to July 15. This College Savings Plan allows families to lock-in tuition rates and pre-pay their child’s tuition. “We are thrilled to extend the open enrollment period to July 15, giving folks another two months to start a plan before prices … Read More
The next step forward
“The next step forward in building an inclusive society is making sure every young American gets a great education and the opportunity to achieve the American Dream.” Those words from President Trump’s State of the Union this week really stuck with me, as they touch on one of the core responsibilities I have as Mississippi State Treasurer. In addition to … Read More
Tonight’s State of the State Address
Were you able to catch Governor Reeves’ State of the State address this evening? He did a great job, focusing on fixes to the prison system, workforce development, and teacher pay. All in all, I thought he laid out an aggressive and substantive plan for the future of Mississippi. At Treasury, we are excited to support his workforce development agenda … Read More