Bill signing changes college savings plan

A bill signed into law on June 14 by Gov. Jay Nixon aims to increase participation in the Missouri Higher Education Savings Program, also known as MOST, by parents who are planning for their children’s college educations.

SB 772 removes a 12-month holding requirement for MOST contributors to receive state tax benefits and eliminates an Aug. 28 sunset provision for the program in its current form.

“We want to continue doing everything we can to put a college degree within the reach of Missouri families, and that includes having a strong state-sponsored college savings plan and making that plan as contributor-friendly as possible,” Nixon said in a news release. “This change will encourage contributions by parents, grandparents and others who want to see a young person reach his or her full potential by earning a degree.”
[[In-content Ad]]