What is MET
MET is a 529 Prepaid Tuition Plan which allows for the pre-purchase of tuition based on today's rates and then paid out at the future cost when the beneficiary is in college. Performance is often based upon tuition inflation.
MET Presentation - 20-minute video and slide show
Peace of Mind for Parents
MET allows parents, grandparents, businesses and others to pre-purchase undergraduate tuition for a child residing in Michigan at any Michigan public university or college, including 28 public community colleges.
Portability - Out of State and Private Universities
Students may direct refund payments to any eligible university in the nation, both private and public.
Students have 15 years to use tuition benefits.
MET contracts may be purchased by semester, by year, or by credit hour.
MET offers payment plans over four, seven, 10, and 15 years.
Payroll deduction is offered through participating employers.
Benefits may be transferred to a sibling or first cousin in the event the student receives a full scholarship or does not attend college.
In the event the student does not wish to attend college, monies are refunded.
Total contract price can be deducted from state income tax. Prepaid tuition earnings are tax-exempt when benefits are used for higher education.
Under the contract, MET will pay future tuition and mandatory fees without additional charge. MET pays in-state tuition at public four-year colleges and universities in Michigan or in-district tuition at public community colleges in Michigan.
See MET's contract booklet for complete details regarding the program, refundability, tax deductibility, transferability, and portability.