Mississippi 529 College Savings Plan – Mississippi Affordable College Savings
About: The Mississippi Affordable College Savings (MACS) Program is similar to other TIAA-managed 529 savings programs, and features an age-based option, five risk-based options, and a guaranteed option. The Mississippi Affordable College Savings (MACS) Program offers you a choice of seven Investment Options. These options vary in their investment strategy and degree of risk, allowing you to select an option or combination of options that may fit your needs.
Phone #: 1-877-338-4646
Investment Options: The Managed Allocation Option contains nine portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary’s age and later reassigned to more conservative portfolios as the beneficiary approaches college age. There’s also a Five multi-fund risk-based options and the Guaranteed Option. TIAA-CREF institutional mutual funds; the Guaranteed Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum 3% rate of interest.
Tax Benefits: Contributions to a Mississippi 529 savings plan of up to $10,000 per year by an individual, and up to $20,000 per year by a married couple filing jointly, are deductible in computing Mississippi taxable income. Contribution deadline is April 15 of the following year.
State Residency Requirements: No state residency is required to participate in Mississippi 529 College Savings Plans.
Saving for College with Upromise
Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.
Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.
Once you join Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ to 25% back that is credited to your account. There are more than 600 online retailers, including Target and more, which will give you rewards that can be used for college and tuition expenses.
The beauty of the Upromise program is that you save money for college by simply shopping at the normal stores you visit every day. Upromise was created in partnership with Sallie Mae and is designed to help save for education costs.