In recognition of College Savings Month, the Michigan Education Trust — the state’s 529 prepaid education savings plan administered by the Department of Treasury — will waive the $25 enrollment fee on new contracts opened from Sept. 1-30. See SetwithMET.com for rules and eligibility, and use coupon code CSM23 for the fee waiver.
Signed into law in 1986, MET, the nation’s first 529 prepaid education savings plan, has helped tens of thousands of families pre-purchase tomorrow’s tuition at today’s rates. More than 96% of high school graduates participating in MET have attended a college, university or technical school.
In addition, the Michigan Education Savings Program (MESP), Michigan’s direct sold 529 college savings plan, is offering a special incentive to help families get started on their higher education savings journey with a bonus deposit.
Individuals who open a new MESP account with a minimum initial contribution of $1,000 from Sept. 1-30 will be eligible for a $100 bonus incentive. For complete details, including terms and conditions about the bonus deposit, go to MIsaves.com/bonus.
Funds saved with MESP can be used for qualified higher education expenses at an eligible four-year university, two-year community college, trade school or graduate school. Account owners can use their MESP savings to pay for qualified higher education expenses, such as tuition, certain room and board expenses, fees, books, supplies and equipment required for the enrollment and attendance of a student.