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5 COLLEGE SAVINGS TIPS from your State Treasurer, David McRae | State Treasury of Mississippi
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Newsroom 5 COLLEGE SAVINGS TIPS from your State Treasurer, David McRae Tip #1: Take Advantage of Compound Interest Albert Einstein once described compound interest as the “eighth wonder of the world.” But what is it? Well, compound interest is when you add the earned interest back into your principal balance, which then earns you even more interest, increasing your returns. In other words, with compound interest, you’re not just earning money on your initial contributions. Even your interest earns interest! And that’s exactly what MACS accounts do! Tip #2: Find Lower-Cost Classes Where possible, students should take advantage of opportunities to enroll in Advanced Placement (AP) courses for college credit while still in high school. You may also consider attending one of Mississippi’s terrific community colleges before moving on to a fou...
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