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Mississippi


Mississippi Prepaid Affordable College Tuition (MPACT) Program


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
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 Details
Summary: 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: Prepaid contract
Enrollment period: October 1, 2014 through May 31, 2015
State residency requirements: The account owner or beneficiary must be a Mississippi resident at the time of program enrollment.
Contract prices: In the 2014-2015 enrollment period, prices ranged from as little as $3,381 for a one-year junior/community college contract for a newborn to as much as $41,584 for a four-year university contract for a twelfth grader.
Are program benefits backed by the full faith and credit of the state? Yes
Are program benefits collateralized or guaranteed in any other way? No
State tax deduction or credit for contributions: Contributions to the Mississippi Prepaid Affordable College Tuition Program are deductible in computing Mississippi taxable income up to $10,000 for single filers and $20,000 for joint filers. MPACT earnings are exempt from state income tax.
Web site: Click here to visit
Telephone: 1-800-987-4450
Twitter Click here to visit
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