Michigan Education Trust Introduces Owl Mascot

Contact: Terry Stanton 517-335-2167
Agency: Treasury

The Michigan Education Trust (MET) prepaid tuition program has introduced a blue and white owl mascot who will help cheer on the smart way of saving for college. MET is also calling on all adults in the state to participate in the "Name the MET Mascot Contest" for a chance to win a tuition-free semester at any Michigan community college.

"We are excited to bring this fun, feathered friend on board to help spread the word that MET is a wise way to take the guesswork out of saving for college," said State Treasurer Robert J. Kleine. "While folks are participating in the name the owl contest, I hope they will take time to consider the importance of saving for a young person's college education. MET remains one of the best ways to save because it locks in tomorrow's tuition at today's rates."

Entries are being accepted through Aug. 31, 2010, at MET's Web site SETwithMET.com. Entrants must be legal Michigan residents age 18 years or older. A panel of judges will score submissions based on creativity/originality and portrayal of the MET college savings message.

MET allows families to lock in current tuition rates by making up-front payments for credits to be used when their child enters college, community college, or university. MET credits can be used at any Michigan public institution, including 28 community colleges. MET contracts are also portable to Michigan private and out-of-state colleges and universities, and may be transferred to other eligible family members.

MET offers three contract options: Full Benefits, Limited Benefits and Community College. Contracts can be purchased in one-semester increments and convenient payment options are available. The total MET contract price, including enrollment fees, qualifies for a Michigan income tax deduction.

Since its debut in 1988 as the nation's first prepaid tuition program, MET has sold more than 91,000 contracts. More than 90 percent of high school graduates with MET contracts have gone on to attend a college or university. Visit SETwithMET.com or call 800-MET-4-KID (800-638-4543) for enrollment information.

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