On College Savings Day, Missouri State Treasurer Clint Zweifel announced that over 10,000 people have signed up for a chance to win $5,290 for contribution into an account with MOST, Missouri’s 529 College Savings Plan. Zweifel said the giveaway is a great way to raise awareness of the importance of investing for future higher education expenses from an early age.
“Not only are we going to be able to help a family afford college, but we’re also really spurring a larger discussion for individuals to sign up for MOST accounts and begin saving money for college,” Zweifel said. “Whether it’s a four year or a two year school, or whether it’s a trade or technical school, we know it’s going to be an important place in the workforce of the future.”
MOST 529 is a program allows people to make investments that can go towards future expenses for tuition, room and board and even books at most universities. University of Missouri Director of Student Financial Aid Nick Prewett said it’s vital that families begin saving as soon as possible.
“Saving as little as 10, 20 dollars a month really makes a difference, especially if you start the moment a child is born,” Prewett said. “So, it’s never too early to really start thinking about that.”
More than 129,000 owners of account owners have invested a total of greater than $2 billion for college. Zweifel said continual increases in these numbers can only benefit the state in the future.
“It reminds us as a state that to position Missouri for growth for the long term, we have to ensure that we have an educated workforce,” Zweifel said. “We’re doing everything we can to ensure that our workforce has skills that they can apply in the job market.”
Only those under the age of 18 are eligible to receive the prize, and Saturday is the last day to enter online through the program’s website, MissouriMost.org. MOST will be giving the $5,290 to one lucky family in the first week of June.