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It’s rare when Missouri tops the charts for a positive development. So we cannot let it go unnoticed that the state’s MOST 529 college savings plan has ranked first in performance in two consecutive surveys.
The website Savingforcollege.com, which informs consumers and advisers about the challenges of paying higher education costs, ranks 529 college savings plans.
Named for Section 529 of the Internal Revenue Code, they offer tax advantages and other incentives for families to put money aside to pay for educational expenses.
Most are sponsored by a state and operate as investment portfolios. When operated well, as Missouri’s is, they provide an excellent way for families to plan ahead for the ever-increasing costs of college in these times.
Savingforcollege.com has ranked Missouri’s plan as tops in performance for the last two quarters.
A similar plan in Kansas, Learning Quest 529, ranked 12th for the quarter that ended March 31.
Missouri’s 529 plan has about 14,500 accounts with nearly $157 million in assets. It is overseen by the state treasurer’s office.
A productive savings investment plan, even one considered the nation’s best, doesn’t mitigate Missouri’s overly high tuition rates and the legislature’s long-term neglect of public colleges and universities.
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