December 4, 2012
Perfect Holiday Gift Idea, Complete with Income Tax Deduction
The Michigan Education Trust (MET) opens its 2013 enrollment period on Monday, December 10, 2012, just in time for holiday gift giving. MET is Michigan's prepaid tuition program that allows individuals and organizations to pre-purchase credit hours toward future tuition at any of the State's public colleges and universities by locking in today's tuition rates. The 2013 enrollment period will run through September 30, 2013.
Prices for the 2013 enrollment period will not increase from 2012 prices for the first half of the enrollment period. During the second half of the 2013 enrollment period, which begins May 1, 2013, prices will increase only 1.5 percent.
"MET continues to be the smart and safe college savings tool that offers peace-of-mind and great flexibility," said Robin Lott, MET executive director. "While MET also makes a great gift idea, it provides an important state income tax deduction for the purchaser."
Parents, grandparents, guardians, other family members and friends can purchase a MET contract for a Michigan student. More than 15,700 students are currently using MET benefits to attend college.
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 also offers a Charitable Tuition Program as a way for organizations to purchase up to four years of college tuition for a deserving individual or child at a discounted rate. Organizations can stretch their scholarship dollars with a MET charitable tuition contract.
For more information, including prices and online enrollment, visit www.SETwithMET.com
Since its debut in 1988 as the nation's first prepaid tuition program, MET has sold approximately 99,000 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.
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