State treasurer, Northwest unveil MOST scholarships

steelman small

State Treasurer Sarah Steelman announces the creation of 25 $500 MOST
college savings plan scholarships at Northwest Missouri State University.
Seated behind Steelman at left is state Sen. Brad Lager. Seated at right is
University President Dean L. Hubbard.

Missouri State Treasurer Sarah Steelman and Northwest President Dean L. Hubbard announced a new scholarship program on Friday, March 23, for families saving for college through MOST -- Missouri's 529 college savings plan.

The program, funded through the Northwest Foundation, will provide 25 $500 one-year scholarships for eligible students whose families have maintained MOST accounts for a minimum specified period.

Among those attending the announcement ceremony were state Rep. Mike Thomson, 4th District, and state Sen. Brad Lager, 12th District, who introduced Steelman to an audience that included Jim Blackford, president of the Northwest Foundation, and Vickie Miller, superintendent of the Maryville RII School District.

"I want every child in this state to have the opportunity to go to college, and this is another step toward that goal," Steelman said. "Missouri's MOST plan is one of the best ways for families to save for college, and our plan just got better."

Steelman described participation in MOST as the "low-cost, tax-free way to save" and cited a number of recent improvements, including Upromise, a service that adds to members' college savings accounts when they buy gasoline and groceries or make other eligible purchases.

"Families can save additional money through the Upromise rewards service with their everyday shopping," Steelman said. "This is just one more step toward making college affordable for every Missouri family and college education a reality for all our children."

Hubbard said the new scholarships reflect the University's commitment to affordable higher education and student success.

"Saving for higher education via the MOST program is a great compliment to Northwest's American Dream Grant," the president said. "Through these two programs, we are working to assure that every Northwest student will be able to afford college."

The American Dream Grant is a unique needs-based financial aid initiative pioneered by Northwest that pays virtually all college expenses during a student's first two years at the University, including tuition, room, board, books and the use of a laptop computer. Eligible students come from families with a combined taxed and untaxed income of $30,000 or less.

MOST is a state-sponsored 529 college savings plan that provides a tax-advantaged way for Missouri families to save for college. MOST accounts can be established for any child with an initial deposit of only $25.

Contributions to MOST accounts -- up to $8,000 per taxpayer per year -- are deductible from state taxes, and earnings are exempt from federal income taxes when redeemed to cover college costs for qualifying higher education expenses.

Northwest's MOST scholarships will be available to full-time students in good academic standing planning to attend the University this fall. To learn more about MOST scholarships and other financial aid at the University, call the Office of Financial Assistance at 660.562.1363 or e-mail finaid@nwmissouri.edu.

As of Dec. 31, MOST comprised approximately 80,000 accounts in which people had invested more than $1 billion. For MORE information about starting a MOST 529 college savings account, go to https://missourimost.org.

For more information, please contact:

Anthony Brown,
News Bureau Manager
E-Mail: abrown@nwmissouri.edu
Phone 660.562.1704
Fax 660.562.1900

Northwest Missouri State University
219 Administration Building,
800 University Drive
Maryville, MO 64468

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