30 Years of Investing in Mississippi’s Future

Recently, my team and I hosted our annual back-to-school telephone town hall. It’s an opportunity for Mississippians to hear updates on the state’s education savings programs, our state’s finances, and a few other housekeeping items (like our efforts to combat fraud and return unclaimed money).

This year’s back-to-school season was extra special, as the Mississippi Prepaid Affordable College Tuition (MPACT) plan turned 30 years old. That milestone represents more than three decades of operation; it represents thousands of Mississippi families who planned ahead, saved their hard-earned money, and made a college education more affordable for their children.

The program, however, hasn’t always been on solid financial footing. When I took office in 2020, MPACT was just 72 percent funded and facing the possibility of a massive taxpayer bailout. As a conservative, asking taxpayers to foot that bill just isn’t in my DNA.

So instead, we went to work finding ways to make the investments we already had work harder. Some relatively small adjustments to our investment strategy delivered big results. Today, MPACT is more than 100 percent funded, solvent, and stable. That’s something I’m proud of, because it means we’re keeping our promises to Mississippi families without putting an additional burden on taxpayers.

Of course, the world looks a lot different today than it did in 1997, when MPACT first opened its doors. College enrollment in Mississippi has grown substantially over the last 30 years but so has the demand for skilled workers who don’t necessarily need a four-year degree. Our education savings programs have had to evolve with those changing needs too.

That’s why, in recent years, the Mississippi Treasury has expanded the Mississippi Affordable College Savings (MACS) program to help families save for more than just a traditional college education. Today, MACS funds can be used for trade schools, apprenticeships, certification programs, and even certain tools and equipment required to complete that training.

The bottom line is this: A successful career doesn’t look the same for every Mississippian, and our education savings programs shouldn’t take a one-size-fits-all approach either. Whether your child or grandchild dreams of earning a four-year degree or learning a skilled trade, the Mississippi Treasury has an option to help you prepare for that future.

If you have questions, I invite you to visit treasury.ms.gov/collegesavings or call (601) 359-5255. You can also join our next telephone town hall and ask your questions live on the line.

It’s the honor of a lifetime to serve as your State Treasurer. And whether we’re protecting taxpayer dollars, strengthening education savings programs, or helping families prepare for the future, my goal remains the same: Give more Mississippians the opportunity to build a good life and a fulfilling career right here in Mississippi.

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