For many families, saving for college or career training has always been an important goal, albeit not always the easiest one. Whether it’s inflation that’s forcing you to tighten your belt, a lack of financial tools that fit your budget, or just the feeling that traditional systems are outdated, too many Mississippians have felt shut out of saving for the future.
That’s why I’m proud to share that the Mississippi Treasury is embracing innovation to meet families where they are. For the first time, Mississippians can now use PayPal and Venmo when gifting money to a Mississippi Affordable College (MACS) account, and crypto when contributing directly to the plan.
With this move, Mississippi becomes one of the first states in the nation to give savers this kind of freedom. And that matters! After all, the next generation of parents, grandparents, and graduates won’t necessarily manage money the same way their parents did.
Today, nearly 97 million Americans use Venmo, and about 1 in seven own crypto. This is where financial life is going – to the apps, the internet, the metaverse. If we want more Mississippians to invest in their family’s future, the government needs to keep pace with the way people actually live, work, and save.