Monday, Mississippi Treasurer David McRae announced a $1,000 Black Friday giveaway to encourage Mississippians to begin saving for college.
College Savings Mississippi, a division of the State Treasury, will be giving one lucky family a $1,000 scholarship when they open a Mississippi Affordable College Savings account between Black Friday and Cyber Monday.
“With Black Friday as the traditional kick-off to holiday shopping, we’re hoping to remind Mississippians that the gift of a college degree is a gift that will keep on giving,” McRae said in a news release. “Whether you’re a parent, grandparent, aunt or uncle, consider making a contribution to a loved one’s college savings plan this gift-giving season.”
A tax-advantaged MACS account, which can be opened for as little as $25, offers families maximum flexibility. The money contributed to this account can be used for tuition, books, supplies, and certain room and board expenses, as well as elementary and secondary tuition expenses for younger students.
For the Black Friday Giveaway, any family who opens a new MACS account between Nov. 27 (“Black Friday”) and Nov. 30 (“Cyber Monday”) will be entered to win the $1,000 scholarship. The winner will be drawn at random.