New Open Enrollment Period for Michigan Education TrustContact: Terry Stanton 517-335-2167Agency: Treasury
Families Can Begin Saving With MET November 1, 2010
The Michigan Education Trust (MET) opens its 2011 enrollment period on Monday, November 1, 2010. The new enrollment period runs through June 30, 2011. MET is Michigan's prepaid tuition program that allows individuals and organizations to pre-purchase credits towards future tuition at any of the State's universities and public colleges by locking in today's rates.
More than 17,500 students are currently using MET benefits at Michigan public colleges and universities, private colleges, and out-of-state institutions. Parents and guardians, grandparents, other family members and friends can purchase a MET contract for a Michigan student.
MET offers three contract options: Full Benefits, Limited Benefits, and Community College. Contracts can be purchased in semester increments with convenient payment options available. MET purchasers receive a state income tax deduction for the total contract price, including enrollment fees.
"MET continues to be one of the smartest and safest investments to make for a child's education and future," explains Robin Lott, MET executive director. "MET provides peace-of-mind, a state tax deduction, and great flexibility."
MET also offers a Charitable Tuition Program as a way for organizations to purchase one to four years of college for a deserving individual or child at a special discounted rate. Organizations can stretch their scholarship dollars with a MET charitable tuition contract.
Individuals now have the opportunity to help an eligible foster care student attend college through MET's new Charitable Tuition Program. Charitable donations will go toward providing scholarships to foster care students at Michigan public colleges who meet academic and/or need-based criteria established by the colleges. To make a charitable donation complete and submit MET Charitable Tuition Program Contribution form (Form Number 4654).
Since its debut in 1988 as the nation's first prepaid tuition program, MET has sold more than 91,000 contracts. MET contracts are portable to Michigan private and out-of-state colleges and universities and may be transferred to other eligible family members. More than 90 percent of high school graduates with MET contracts have attended a college or university. Visit SETwithMET.com or call 800-MET-4-KID (800-638-4543) for enrollment information.
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