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MI 529

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MI 529

Michigan 529 College Savings Plans logo

Michigan's 529 Savings Programs

Michigan offers several 529 college savings programs to assist you in saving for future college expenses. A 529 Plan is a tax-advantaged savings/investment plan designed to encourage saving for the future expenses of a designated beneficiary (typically one's child or grandchild).
Learn more about Michigan's 529 Savings Programs

What are Michigan's 529 plans?

Bureau director Robin Lott talks about the history of Michigan 529 plans, the advantages of 529 plans and the different varieties that Michigan offers.

Want to see more videos about Michigan's 529 plans? Visit our YouTube channel.

MI529 Savings YouTube Channel

What are Michigan's 529 plans? Video

Michigan's Section 529 College Savings Programs

MET logo

Michigan Education Trust

Michigan's Section 529 Prepaid Tuition Savings Plan 

MESP logo

Michigan Education Savings Program

Michigan's Direct Sold Section 529 Investment Savings Program

MI 529 Advisor Logo

MI 529 Advisor

Michigan's Broker Sold Section 529 Investment Savings Program

Michigan's 529 Options Video

Michigan's 529 Options

An overview of Michigan's 529 savings plans. A focus will be on Michigan's two direct sold 529 college savings plans, the Michigan Education Trust and the Michigan Education Savings Program.

Learn more about Michigan's 529 plans on our YouTube Channel.

MI 529 Savings YouTube Channel

Similarities and Differences

MET logo

  • Prepay tuition with three plan options
  • Purchase credit hours at today's price for future use
  • Three payment options
  • Best benefit at Michigan public colleges and universities
  • Funds can be used at MI private colleges, out-of-state school and trade schools
  • Fifteen years from expected high school graduation to use, transfer or refund

Both Plans

  • Both are Section 529 qualified tuition programs
  • State income tax deductions
  • Earnings are tax exempt for qualified withdrawals
  • Low cost, no commissions
  • Transferable to immediate family members
  • Fund with after tax dollars
  • Contribute with payroll direct deposit, ACH or one-time payments
  • Can be used separately or together ($500,000 max)
  • Minimal impact on financial aid
  • Rollovers accepted from other 529 programs

MESP logo

  • Investment-based 529 account with multiple investment options to choose from
  • Use at any eligible educational institution
  • Save for all qualified higher educational institution
  • Open an account with as little as $25
  • No age or time limit to use funds
  • Two changes investment strategy every 12 months

2024 Joint Events

Staff are available for presentations (virtual or in-person) or to set-up a display at your event. If you are interested in scheduling a presentation or display, please call 800-638-4543 or email TreasMET@Michigan.gov .

MI ABLE

MiABLE

The mission of MiABLE is to encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence and quality of life.


Learn more about MiABLE