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Tuesday, October 23, 2012

Zweifel misleads Missourians on State College Loan Program

 Zweifel misleads Missourians on MOST program

MOGOP's Smith:  "Missouri parents deserve full, accurate information so they can make smart choices for financing their children's education."


JEFFERSON CITY—Missouri State Treasurer Clint Zweifel is misleading Missourians in an attempt to cover up the below-average performance of the MOST program, which helps Missourians save money for college.

The MOST program offers two plans: 529 advisor and 529 direct-sold.  When Zweifel releases reports each quarter, he only mentions the better-performing advisor plan—but the truth is that the direct sold plan, which 90 percent of investors use, is ranked 32nd out of 45 state plans over the past 3 years.

Recently, Republican leaders  and media organizations have questioned Zweifel's omission of the poor performance of direct-sold MOST program under his supervision.

"During these challenging economic times, Missouri parents deserve full, accurate information so they can make smart choices for financing their children's education.  Sadly, Clint Zweifel refuses to provide complete information about the below-average performance of Missouri's MOST program," said Lloyd Smith, Executive Director of the Missouri Republican Party.  "Zweifel does Missouri families a disservice when he leads them to believe they are putting their hard-earned dollars into a high-performing plan, when it actually ranks near the bottom of all states.

Cole McNary has actively campaigned on a platform based on fiscal truth and hopes to bring sunlight to all taxpayer-funded programs administered or supervised by the Treasurer's office.

"Many families in Missouri cannot afford to hire a financial planner to access the higher performing plan.  Access to robust investment options should not be limited to only a select income bracket.  Misleading promotion from Zweifel, who has a responsibility to protect our assets, only serves to underscore the lack of financial leadership in the Treasurer's office," added Smith.

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Rush M. James
Cole McNary for State Treasurer
Campaign Manager

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