Don't wait to get information in the mail? Download and print our informative Program Brochure (PDF). Remember, you can always enroll online any time.

The MACS Program offers you and your family many benefits.

Flexibility in Using the Funds - Whether your child decides to go to a private or public college or university, in state or out of state, trade or graduate school, funds in the Account may be used at any eligible educational institution in the nation. Your savings may be applied towards tuition as well as related expenses such as books, supplies, required fees, and certain room and board costs.

Choice of Investments - MACS offers you three investment choices: a core Managed Allocation Option, a Guaranteed Option and a 100% Equity Option. The Guaranteed Option guarantees principal and a minimum rate of interest to the MACS plan, but not to account owners or beneficiaries. These choices vary in their investment strategy and degree of risk, allowing you to select an option or options that best fit your needs and investment philosophy. For a description of these investment options and to help you and your family make the right investment choice, please refer to the Investment Options section of this web site.

No Income Limits - Parents, grandparents, relatives and friends at any income level may open an Account and contribute to MACS on behalf of a beneficiary.

Mississippi State Tax Deduction - Contributions to a MACS Program Account of up to $10,000 a year per account owner ($20,000 for married couples jointly filing the Mississippi income tax return) may be deducted from Mississippi state income tax. Contributions must be made by April 15th of the following calendar year to qualify for the deduction. If a nonqualified withdrawal is taken from the MACS Account, the portion of the withdrawal attributable to contributions that were previously deducted for Mississippi income tax purposes will be included in computing the Account Owner's Mississippi taxable income for the year in which the nonqualified withdrawal is paid.

Tax-Deferred Earnings - Contributions to MACS grow free from federal and Mississippi income tax, making every dollar work harder. These tax advantages help your investment grow faster. Money otherwise used to pay taxes continues to work for you.

Tax-Deferred Withdrawals - Withdrawals used for qualified expenses will be free of both federal and Mississippi income tax, giving you more money to pay for education expenses. This federal income tax-free treatment of qualified withdrawals and other federal tax benefits are permanently in place for 529 plans through the passage of the Pension Protection Act of 2006.

Gift and Estate Tax Advantages - Contributions of up to $12,000 per year to an Account for a beneficiary (or $24,000 for a married individual who elects to split gifts with his or her spouse) are free of federal gift tax provided the contributor makes no other gifts during the year to the same beneficiary. You may contribute up to $60,000 in a single year (or up to $120,000 for consenting married couples) per beneficiary and elect to treat this contribution as five years' worth of tax-free gifts. No federal gift tax will apply provided the contributor makes no other gifts to the same beneficiary during the five-year proration period. In addition, even though the Account Owner maintains control over the Account, amounts in an Account generally are not included in the Account Owner's gross estate for federal estate tax purposes.

Low Minimum Contribution - An Account may be opened with a $25 check, electronic funds transfer, or Automatic Contribution Plan. You can also contribute as little as $15 per investment option per pay period using payroll deduction through participating employers. Each Account can have only one Account Owner and one beneficiary. However, you may open separate Accounts for as many different beneficiaries as you wish.

Contribution Limit - There is no annual limit on the amount you may contribute to an Account. However, a lifetime limit, known as the Maximum Account Balance Limit applies. In general, you may contribute to your Account, if at the time of your contribution; the total balance of all Accounts (including accounts in the MPACT Prepaid Program and the MACS Advisor Program) for your beneficiary does not exceed $235,000. Your Account may continue to grow beyond this limit based on the performance of the investment option(s) you've selected.

Transferability - If your child or beneficiary decides not to attend an eligible educational institution, the Account Owner can transfer funds in the Account to another eligible beneficiary. To avoid income tax and the additional tax, the new beneficiary must be a member of the family of the previous beneficiary (as described in the MACS Program Disclosure Booklet).

Account Information - Quarterly and annual statements will be mailed reflecting Account activity. A separate confirmation statement will also be mailed for each transaction made to the Account. (Quarterly statements will be provided for periodic payment plans, such as payroll deduction).

Professional Money Management - The Board of Directors of the College Savings Plans of Mississippi and the Mississippi Treasury Department selected TIAA-CREF Tuition Financing, Inc. (TFI) to serve as program manager of the Mississippi Affordable College Savings Program. TFI, an SEC-registered investment advisor, manages MACS Program investments and provides investment advisory services. TFI is a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (TIAA), an insurance company domiciled in New York. TIAA, together with its companion organization CREF, form a nationally recognized financial services organization with over $436 billion in assets under management as of December 31, 2007.

Low Cost - An annual asset-based management fee is used to cover the cost of administrative services. This fee is computed at an annual rate of 0.70% of the MACS Program average daily net assets. In addition, the investment management fee for each mutual fund is charged separately. No other fees or charges will be applied to your Account.