SET with MET
December is an exciting month for so many reasons: holiday celebrations, family gatherings, reflection on the year passed and anticipation of the new year. But December is also exciting for another reason—it’s when the new Michigan Education Trust (MET) enrollment year opens. MET gives parents, grandparents and others a chance to pre-purchase a child’s future college tuition. MET is Michigan’s 529 prepaid tuition plan which means you can buy college credits now, based upon today’s rates and MET will then payout at future tuition costs.
This December is even more exciting for MET because this year, we are giving you a gift! Our “Get $50, Give $50” promotion will be running all month long. If you are one of the first 300 new MET contracts purchased in December and use coupon code GIVE50 during your online enrollment, we will add a $50 match to your new contract and give you a $50 gift card to use at DonorsChoose.org to help fund a project for a teacher of your choice. It’s a great way for you to reach your college savings goals and for a teacher to fund an important project. You can learn more about the promotion and enroll at www.SETwithMET.com.
Enrolling in MET has many benefits, but one benefit often overlooked is the benefit of a Michigan tax deduction. MET purchasers can deduct the entire amount of their contributions from their taxable income in the year the contributions are made. Contract purchases are also eligible for a federal gift tax exclusion, check with your tax professional to see if applicable
We hope you enjoy all that December has to offer and we wish you a very happy 2020!