Learn how to use the MOST 529 plan
September 17, 2010
Clint Zweifel, treasurer of the state of Missouri, will be visiting parents and students in the first floor library at Cecil Floyd Elementary School, 2201 W. 24th St., Joplin. His aim is to promote the benefits of participating in MOST, Missouri's 529 College Savings Plan. The discussion will take place at 1 p.m., Thursday, Sept. 23, 2010.

The MOST 529 Plan is a state-sponsored, tax-advantaged plan that lets parents save for qualified higher education expenses, including tuition, certain room and board expenses, books and supplies and then withdraw the funds, when needed, free from federal and state income taxes. As little as $25 may be the initial investment.

The plan implemented and administered by the Missouri Higher Education Savings Program Board involves the purchase of municipal securities (portfolio units) through the services of the Vanguard Group, Inc. and American Century Investments. Investment returns are not quaranteed and earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes.

For a child born in 2010 a spokesperson for Zweifel says that in 2028 the projected cost of tuition and fees at Missouri State University will climb to $41,986 per year and at the University of Missouri-Columbia, $64,943.

For more information about MOST phone (800) 962-5168 or visit here to obtain a program description, privacy policy and participation agreement.

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