Lucky new Baptist Union County and Baptist DeSoto patients recently started their lives with $529 Mississippi Affordable College Savings accounts. The infants won a contest sponsored by Mississippi State Treasurer Lynn Fitch and College Savings Mississippi. The scholarships were awarded to the babies born closest to 5:29 a.m. and 5:29 p.m. on May 29.
Baptist DeSoto’s baby contest winner was born to Callista Worley and Darius Toliver of Tunica, Miss., at 6:33 a.m. Nikki Childers and Lee Salmon, both from Ecru, Miss., are the parents of Baptist Union County’s winner, born at 5:58 p.m. Both couples gave birth to girls.
May 29 is National 529 College Savings Day. Mississippi and other states offer tax-advantaged 529 plans that help families save for college expenses. To raise awareness of the importance of saving early for higher education, Fitch and College Savings Mississippi teamed up with 20 Mississippi hospitals to celebrate National 529 College Savings Day. In addition to receiving the MACS accounts, the two baby girls received personalized College Savings Mississippi onesies that say “I’m a 529 baby.”
“Our mission is to help families get off to a good start in saving for college.” said Fitch. “The cost of getting a four-year degree has nearly tripled over the past 20 years, so saving now is critical. When you start to save for a child the day he or she is born, you are investing in that child’s future.”
MACS contributions grow free from state and federal income taxes when used for qualified higher education expenses. Mississippi taxpayers are also entitled to state income tax deductions for their contributions. For more information about MACS, go to www.treasurerlynnfitch.com/programs/college-savings or call 1-800-486-3670.