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Prepaid Plan
Prepaid Plans let you pre-pay all or part of the costs of a college education. They may also be converted for use at private and out-of-state colleges. Because of the unique structure of these plans, they are not considered in our ratings methodology.
Mississippi Prepaid Affordable College Tuition (MPACT) Program offers a variety of tuition packages to Mississippi families. It was closed to new enrollment in 2012, pending results of an acutarial audit and reopened to new enrollees on October 1, 2014. Contracts purchased prior to October 1, 2014 are referred to as "Legacy Contracts"; contracts purchased on or after October 1, 2014 are referred to as "Horizon Contracts".
Program type
Enrollment period
Inception
State agency
Tax deduction
For single filers: $10,000/yr per beneficiary
For joint filers: $20,000/yr per beneficiary
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Minimum contributions:
Contract prices:
Available tuition packages:
Benefits for beneficiary attending private or out-of-state institution:
Contract payment options:
Are program benefits backed by the full faith and credit of the state?
Are program benefits collateralized or guaranteed in any other way?
Enrollment or application fee:
Tax deduction for single filers:
Tax deduction for joint filers:
Program match on contributions:
State tax deduction or credit for contributions:
Find out how much you can save on state taxes this year by contributing to a Mississippi 529 plan.
Household income
$100,000
Monthly Contribution
$100
State tax recapture provisions:
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Is there a rewards program or outside scholarship program that works with this program?
Statutory protection of an account from creditors:
To whom are distributions made payable:
Policy regarding participant/owner changes:
A good place to start:
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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.