Saving the MOST for college
Here’s an eye-opening stat for you. The average four-year college education at a public university costs approximately $20,000 per year. You didn’t read that incorrectly. I didn’t type in too many zeros. College is expensive and there’s no other way to slice it. If you have kids going to college this fall, I’m jealous because I can’t even imagine what the cost will be in 17 years when my youngest enrolls.
But here is some great news! If you have a Missouri MOST 529 College Savings Plan for your child, you may qualify for the “Matching Grant Program†.” Through the program, up to $500 of your savings will be matched each year for five years. It’s kind of like what we say with your retirement – if you aren’t taking advantage of the company match, you’re throwing away free money. The same applies here. Check out the specifications and see if you are eligible and it makes sense for you. And if it does, stop throwing this free money away! Every little bit helps when it comes to saving for college.