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Missouri State Treasurer Clint Zweifel stopped in Springfield Tuesday at Roundtree Elementary School to talk with some of the students and their parents about saving money for college. KSMU’s Justin Lux was there and has the report.
[Natural Sound of Children Playing]
When children are young it’s all fun and games. The students in one of Roundtree Elementary’s PE classes were having a blast with a few basketballs before the special guest arrived. For them, saving for college is the last thing they care about. But as a parent your child’s college education is always in the back of your mind.
As part of College Savings Month, State Treasurer Clint Zweifel came to Roundtree Elementary School to discuss the state’s MOST 529 College Savings Plan. That’s a state sponsored program that allows parents to save up for their children’s higher education costs.
Through the program, parents can open an account with as little as $25 and add as often or as much as they can afford each month. Zweifel says, with the college savings plan, you’d be surprised how quickly the money can add up.
“One of the great stories of Missouri MOST is that small investments really do make a big impact. The college and the cost of college is often daunting for many families, but when you think in terms of small investments over a long period of time, parents can make a real impact,” Zweifel says.
Zweifel sat down with a few of the third and fourth grade students and discovered that some children have already begun to look toward the future.
Zweifel: Do you guys have ideas on what you want to be when you grow up? Who has a strong idea?
Student: I wanna be a photographer.
Zweifel: A photographer! So what are you doing to get prepared for that?
The money in the account will not be subject to any federal or Missouri state income taxes and will not affect a student’s ability to receive scholarships.
The plan has already begun to take off. In southwest Missouri, nearly 8,000 accounts have already been opened, totaling more than $73 million in future college funds.
For KSMU News, I’m Justin Lux.