Michigan Education Trust Heads North of the Bridge to Link Yooper Families to New College Savings Opportunities

This fall, as the Upper Peninsula comes alive with color and crisp air, the Michigan Education Trust (MET) will embark on its first U.P. tour since launching its historic $25 minimum enrollment, with community sessions to help families start saving for college.

The events, to be held Sept. 29-Oct. 1, in Escanaba, Marquette, Newberry and Sault Ste. Marie, mark the most significant push yet to connect Yooper families with Michigan's prepaid tuition program.

Attending one of the events provides families with an opportunity to learn how MET can help them build college savings with an initial contribution of just $25 instead of the previous requirement to purchase at least one credit hour upfront.

Representatives from MET and the Michigan Education Savings Program (MESP), also a Section 529 plan administered by the state Department of Treasury, will be available to provide insights into the features and benefits of each program and to assist in opening new accounts - with a $100 bonus for every new MET contract opened at the events.*

"Lowering the enrollment to $25 makes saving accessible to more Michigan families than ever before, and we're proud to bring this message directly to the U.P.," said Diane Brewer, executive director of both programs. "Fall is the perfect time for families to take this important step by starting small now to build a future of opportunity for the next generation."

Event Schedule:

Escanaba drop-in, information and enrollment session
Monday, Sept. 29, 3-6 p.m.
Catherine Bonifas Civic Center - Room 121
225 N. 21st St., Escanaba

Marquette - U.P. Children's Museum (Toddler Time)
Tuesday, Sept. 30, 10:30-11:30 a.m.
123 W. Baraga Ave., Marquette

Newberry - Tahquamenon Area School Public Library presentation
Tuesday, Sept. 30, 5:30-6:30 p.m.
700 Newberry Ave., Newberry

Sault Ste. Marie drop-in, information and enrollment session
Wednesday, Oct. 1, 3:30 to 6:30 p.m.
Lake Superior State University - Norris Event Center, Room 202
1000 Meridian St., Sault Ste. Marie

Since its inception in 1988, MET has helped more than 105,000 students' parents and grandparents save for college, making it one of the nation's most successful prepaid tuition programs. MET contracts allow families to purchase future college tuition at today's rates and are eligible for state tax deductions. Funds can also be used at out-of-state, private colleges, trade schools or can be transferred to family members.

"Every step you take to save early is a step toward opportunity," Brewer said. "We want every Michigan child to step into their educational future with a strong financial foundation beneath them."

More information about the sessions and Michigan's 529 plans is available here.

*Limit one bonus per beneficiary, lifetime.

About MET

MET is Michigan's Section 529 prepaid tuition savings program that allows the purchase of future tuition at any of the state's public universities and colleges at today's rates. The total contract price is eligible for a state tax deduction and earnings are tax-exempt if used for qualified higher education expenses. MET funds can be used to pay out-of-state and Michigan private college and university tuition and credits can also be transferred to other eligible family members.

About MESP

MESP is Michigan's direct-sold Section 529 college savings program that offers families various investment options. It also provides Michigan taxpayers a state income tax deduction on contributions and potential tax-free growth on any earnings if account proceeds are used to pay for qualified higher education expenses. MESP can be used at any eligible college, university or trade school in the nation and some abroad. Qualified higher education expenses include tuition, fees, room, board, books, equipment and supplies required for enrollment. Limitations apply. See the MESP Disclosure Booklet for details.