MO Treasurer discusses saving for college at Cape Girardeau elementary school

CAPE GIRARDEAU, MO (KFVS) - It's never too early to start saving for college.

That was the word from Missouri State Treasurer Eric Schmitt on Monday, March 27 as he spoke at Franklin Elementary.

Students and parents were invited to learn more about the "Most 529 Savings Plan." It lets parents or guardians start putting money away when the child is young so they have funds to go to college when they grow up.

Franklin Elementary is one of six Missouri schools that are part of a pilot program designed to encourage more people to save early.

Schmitt said, compared to other states, Missouri lags behind when it comes to programs like these.

"If a 529 college savings plan is opened for a child, they are six times more likely to go to college," he said. "So, if we can boost enrollment and get more parents and grandparents aware that they can open these accounts, it's going to lead to greater education attainment."

Monday's meeting was also used to honor Big Brothers Big Sisters for their work in the area.

Download the KFVS News app: iPhone | Android

Copyright 2017 KFVS. All rights reserved.