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Michigan


Michigan Education Trust


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
The Michigan Education Trust prepaid tuition program offers several options to the Michigan family to lock in tuition at Michigan public institutions. What makes this program different than most is that contributions are irrevocable.

Program Details
Summary: The Michigan Education Trust prepaid tuition program offers several options to the Michigan family to lock in tuition at Michigan public institutions. What makes this program different than most is that contributions are irrevocable.
Program type: Prepaid contract
Enrollment period: The Enrollment Period to purchase MET contracts is December 10, 2013 - September 30, 2014.
State residency requirements: The beneficiary must be a Michigan resident at the time of program enrollment.
Contract prices: 2013-14 Enrollment:

For the period of December 10, 2013 through April 30, 2014 prices range from as little as $1,572 for a one-semester community college contract to as much as $67,496 for a four-year full benefits contract purchased during the 10th grade to 12th grade.

For the period of May 1, 2014 through September 30, 2014 prices range from as little as $1,596 for a one-semester community college contract to as much as $68,512 for a four-year full benefits contract purchased during the 10th grade to 12th grade.
Are program benefits backed by the full faith and credit of the state? No
Are program benefits collateralized or guaranteed in any other way? No
State tax deduction or credit for contributions: Contributions to the Michigan Education Trust are fully deductible from Michigan taxable income. Rollover contributions are not eligible for the deduction, according to the Michigan Department of Treasury.
Web site: Click here to visit
Telephone: 1-800-638-4543
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