Missouri Most 529 College Savings Plan
About: 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, 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 (the “Board”).
Ascensus College Savings Recordkeeping Services, LLC, serves as the Program Manager and Recordkeeping and Servicing Agent, and together with its affiliates, has overall responsibility for the day-to-day operations of the Plan. The Vanguard Group, Inc., serves as Investment Manager for the Plan.
Phone #: 1-888-414-6678
Investment Options: Missouri’s 529 College Savings Plan (Direct-sold), managed by Ascensus College Savings, features three-age based options and 16 static portfolios with funds from Vanguard and Dimensional Fund Advisors.
Tax Benefits: Contributions to Missouri AND non-Missouri 529 plans of up to $8,000 per year by an individual, and up to $16,000 per year by a married couple filing jointly, are deductible in computing Missouri taxable income. Only contributions made by the account owner are deductible, except for spouses filing a joint return. Rollover contributions are not deductible. Contribution deadline is December 31 postmark.
State Residency Requirements: No state residency is required to participate in Missouri’s 529 College Savings Plans.
Saving for College with Upromise
Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.
Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.
Once you join Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ 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.