MSU launches MOST scholarship program

Missouri Treasurer Sarah Steelman and MSU President Michael Nietzel announced the new program, MSU MOST Scholarships, this afternoon on the school’s campus.

MSU will fund 10 annual scholarships of $500 for students attending its Springfield campus and two scholarships of $500 for students attending its West Plains campus.

To qualify, students must attend MSU full-time, be in good academic standing and be from families that have had MOST accounts for at least five years. Students must fill out the Free Application for Federal Student Aid and apply through MSU’s financial aid office to be considered for the scholarships.

“We’re very pleased to be involved in this endeavor to encourage parents to utilize MOST to save for their children’s educational futures,” Nietzel said in a news release. “Including these scholarships, the university has added $556,000 in need-based aid in the past 18 months.”

MOST, or Missourians Saving for Tuition, is a state-sponsored 529 college-savings plan that can be established with a minimum of $25. Contributions to MOST accounts, up to $8,000 per taxpayer per year, are deductible from state income taxes, and earnings on MOST accounts can be exempt from federal income taxes when redeemed to cover college costs.

MOST savings can be used at any eligible higher-education institution in the country.