MOST Offers New Benefits
No matter what pre-schooler Jordan Wilson wants to be when he grows up, his mother is concerned about college tuition costs.
"I think you can never have too much money. I can only imagine how much money college is gonna cost when he actually gets old enough to go to school," Jordan's mother, Sharita Wilson, said.
State Treasurer Sarah Steelman and U.M. System President Elson Floyd hope a new scholarship program for Missouri children will help with some of those costs. The universtiy system plans to award 80 scholarships every year, that means 20 scholarships to each of its four campuses. Each of the scholarships will be $500.
The scholarships will be available to students whose families have invested in Missouri's college savings program. Steelman recommends parents start saving right away.
"The earlier you start saving, the faster that money is going to accumulate and in a MOST account, it accumulates tax free so that makes it earn that much more money," Steelman explained.
Wilson said this is good news.
"I'm thrilled that the university has decided to adopt this program because I think that my children can definitely benefit from it," she said.
Students whose families have invested in the MOST program for at least five years are eligible for the scholarships. Students can get the scholarships for up to four years and can apply annually. Eligibility for the scholarships starts in the fall of 2007.
Reported by: Kara Bourn