Enrollment for the Mississippi Prepaid Affordable College Tuition (MPACT) program is now open for the 2023-2024 school year.
MPACT, run by the state treasury office, allows Mississippi families to lock in today’s tuition rates and prepay for a child’s college ahead of time in order to shield parents from potential tuition rate hikes.
To date, Americans hold roughly $1.8 trillion worth of student loan debt — an amount that has tripled in the last decade and a half alone. MPACT is being offered as a solution to help families curb the financial impact of college tuition and reduce the amount of student loan debt that could be accrued.
MPACT is the only prepaid tuition plan available that is guaranteed by the state of Mississippi. Students enrolled in the program must meet the requirements for college admission before receiving benefits.
Those enrolled can use MPACT for community college, university/senior college, or a combination, from one to five years. It can be used for both in-state and out-of-state institutions. Students are also allowed to transfer from one college to another while using MPACT benefits.
Enrollment is open from now until May 31. For more information on MPACT and how it works, click here.