State Treasurer David McRae testified before the Senate Universities and Colleges Committee this week about the strength of Mississippi’s College and Career Savings program. The Treasurer highlighted the financial recovery his team has undertaken on behalf of taxpayers, while also noting significant shifts in the state’s offerings for those looking to pursue careers that do not require a four-year degree.
“Mississippi’s College and Career Savings program is stronger than ever,” said Treasurer McRae. “We’ve rebuilt its financial footing, protected taxpayers, and expanded opportunities for students pursuing both traditional degrees and high-demand career paths. Our goal is simple: Help every Mississippi family invest with confidence in their child’s future.”
When Treasurer McRae assumed office, the MPACT Legacy plan was underfunded and on the path to needing a bailout from taxpayers. By working with the state legislature to update the investment structure, McRae has restored funding of the MPACT Legacy plan to more than 100 percent. The MPACT Horizon plan is funded at 140 percent.
Meanwhile, the programs have seen meaningful growth under McRae’s leadership. Today, more than 35,000 Mississippi families have an MPACT plan, while more than 23,000 invest in a MACS plan.
Through his efforts to modernize the program, families can now contribute using Venmo, crypto, and more. Additionally, the MACS accounts themselves can now be used for everything from apprenticeships to certifications to classroom supplies.
Mississippi citizens are invited to visit treasury.ms.gov/collegesavings for more information.
To book an interview, please email press@treasury.ms.gov.
