SET with MET
This purchase option allows purchasers to buy contracts by credit hours rather than in semester increments. This is a good option even if you intend to purchase one or more semesters in a lump sum as it leaves the contract open to future contributions as opposed to a regular lump sum purchase that is closed and cannot be added to in the future. Once a contract has been purchased, friends and family can also make contributions to the contract.
Lump sum purchases are generally used to make a purchase of a set number of semesters or years. If you are not purchasing a full four-year contract, we recommend choosing the Pay-As-You-Go payment option. You would still purchase the same number of semesters or years initially, but the contract would remain open to additional contributions in the future.
MET offers monthly purchase options in four, seven, ten or fifteen year increments depending on the age of the beneficiary. The age of the beneficiary determines which plan is available as the contract must be paid-in-full by the time the beneficiary reaches the age of eighteen. MET's price chart lists the prices for each plan and the ages of eligibility.
MET allows the pre-purchase of tuition based on today's rates and then paid out at the future cost when the beneficiary is in college. It is flexible tax deductible, and can be transferred or refunded if not used. See MET's enrollment kit for complete details.