• Description

In an effort to improve family economic security in rural communities, Southern Bancorp Community Partners (SBCP) sought a sustainable funding source in 2013 for Arkansas's Aspiring Scholars Matching Grant (ASMG) Program, a savings incentive for low-to-moderate income families that matches funds saved for a child's college education in the 529 GIFT Plan, and investigated the possible creation of a matched 529 savings program in Mississippi. SBCP authored this paper to illustrate and examine the current options of college savings accounts offered in both states and analyze the causes behind low participation in each state's 529 plans.