Mo. treasurer announces scholarship for college-savings plan

JEFFERSON CITY, Mo. (AP) -- State Treasurer Sarah Steelman says all of Missouri's public universities have agreed to provide some scholarships to families who save money for tuition.

The scholarships will go to a limited number of students whose families have used the Missouri Saving for Tuition program -- a tax-free way to invest money for college.

Each state sponsors some sort of college savings plan. In Missouri, it's overseen by the treasurer's office.

Steelman says each university can determine how many scholarships to provide and set its own eligibility criteria. The scholarships are for $500.

Steelman is running for governor in the Republican primary against Congressman Kenny Hulshof.