Mississippi State Treasurer Lynn Fitch congratulates two lucky newborns who will each start their life with $529 in education savings through a Mississippi Affordable College Savings (MACS) scholarship.
The infants were winners of College Savings Mississippi’s annual Baby Contest in celebration of National 529 College Savings Day, which is held annually on May 29, or 5/29.
Like other states, Mississippi offers tax-advantaged savings plans that help families stretch their savings for future education expenses, and these plans are often known as 529 plans for their section in the Internal Revenue Code.
The contest helps to raise awareness of the importance of saving early for education. And, here in Mississippi, it also helps two families take their first steps toward saving.
Treasurer Fitch and College Savings Mississippi teamed up with 18 Mississippi hospitals to offer the two babies born closest to, at or after 5:29 a.m. and 5:29 p.m. on May 29 $529 MACS scholarships. In addition, all babies born at the participating hospitals that day received an “I’m a 529 baby” bib.
“We are grateful to the Mississippi Hospitals Association and all our participating hospitals for helping us spread the word about how important it is to start saving early for your children’s education,” said Treasurer Fitch. “Especially now that Congress has made MACS savings eligible for K12 tuition at private, religious and public schools, families can never start saving too early for their children’s education. Through promotional opportunities like these, we are working to make sure all families understand how College Savings Mississippi helps them invest in their children’s future.”
The Hernando winner, Lesleigh Caroline, was born at 6:12 a.m. at Baptist Memorial Hospital-DeSoto in Southaven to Emily Brown and Justin Orfans.
College Savings Mississippi is a division of the State Treasurer’s Office offering the only two Mississippi state-sponsored 529 savings plans, Mississippi Affordable College Savings Plan (MACS) and the Mississippi Prepaid Affordable College Tuition Plan (MPACT). Both MACS and MPACT offer Mississippi taxpayers tax-advantaged savings.