Click here to listen to KMZU’s Ashley Johnson speak with Missouri State Treasurer Clint Zweifel about the MOST 529 Matching Grant Program:
Since 2012, Missouri’s MOST 529 Matching Grant Program has deposited matching funds into 1,100 different savings accounts.
As of January 31st of this year, the MOST 529 helped over 500 families reach their goals just this year. “Well this is a matching grant that we created for Missouri families with the idea that we want to do everything we can to help Missourians save for college,” Zweifel explained, “This matching grant does a couple of things. First of all, in a tangible way, it helps families by matching the dollars that they save for college. But the second piece is that we are really sending a message that saving for college and using a 529 is a powerful tool for families for planning for their future. It’s a great way to encourage young people to be engaged in their own futures from an early age and higher education is one of the valuable investments that we can make in the next generation.”
While this was the last year for the 529 grants, the inspiration the program left behind is still moving forward and helping more kids and parents. “We always want to find creative ways to encourage families to save for college,” expressed Zweifel, “One of the neat things about this matching grant and what it has done is we have seen private organizations come together and form their own matching accounts for students, using corporate money, using civic money, and finding ways to help them develop those accounts. So this has been really a movement that has helped engaged the civic community, the business community, and parents and kids.”