JACKSON, Miss. (WLBT) - Tuition is set to go up at seven of Mississippi’s eight public universities this fall. But there are options to knock down those costs.
Jackson State University was the only school that chose not to raise tuition for next year.
The average increase for in-state students will be 2.8 percent and 3 percent for out-of-state. It’s a trend that’s become the norm. The pandemic put a freeze on the hikes for last year. But Treasurer David McRae notes that in-state tuition has gone up 71% from 2009-2019.
“They are going to raise college tuition,” noted McRae. “It looks like that’s definitely something that will always happen.”
If you feel like the hikes will price your student out, McRae points to the college savings plan MPACT.
“Parents can sign up as soon as your child is born or any time after that,” explained McRae. “It prepays for college tuition. So, you lock in today’s rate, no matter what it is for your child’s future.”
The rates vary based on the age of your child when you enroll. If you’re considering locking in the current tuition rates for your child, you have until May 31 to enroll in the MPACT program.
To learn more about MPACT’s benefits, costs and more, click HERE.
For those whose students are entering college, Get2College is a resource that can help your family navigate the financial questions. If your child is a high school senior, Ann Hendrick says there’s no need to panic.
“It’s certainly not too late for students to be applying for financial aid or to be getting things in order with all their payment options,” described director of the Get2College program of the Woodward Hines Education Foundation Ann Hendrick.
Hendrick points out for key steps: filling out the FAFSA, filling out the Mississippi Aid Application, searching for private scholarships and reaching out to the school’s financial aid office.
“It doesn’t matter if you’re low income or high income, the cost of college is one of those factors you’re going to have to add to your budget or your planning,” added Hendrick. “And the sooner you do it, the better off you are.”
To explore all of the resources available through Get2College, click HERE.