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You have a great opportunity to help your employees and clients save for their child’s or grandchild’s future education. MET allows parents, grandparents and others to save on college tuition by purchasing college credits at today’s price to use on future tuition costs.
Set your organization apart by offering this unique, free benefit. We are available to:
- Participate in school events (i.e. Kindergarten Round-up, Welcome Back Fairs, Parent-Teacher Conferences, etc.)
- Conduct in-person or virtual presentations on the importance of saving for future education costs and the benefits of Michigan’s 529 education savings programs.
- Attend employee benefit fairs.
- Provide educational materials.
- Assist HR/Payroll with initiating MET payroll deduction.
MET payroll deduction benefits your employees AND your organization or business. It's as easy as adding another direct deposit account to your paycheck!
Good for your organization
- MET differentiates your benefits plan from other organizations.
- It is simple and free to administer.
- It’s a complementary benefit to a 401 (k) and other programs (paid with after-tax dollars).
- The prepaid tuition program gives your employees an easy, affordable, tax-advantage way to save for an important goal.
- It enhances existing tuition benefits.
- We will help you develop a strategy to communicate this exciting new benefit to your employees.
Good for your employees
- Three plan options: Full Benefits, Limited Benefits and Community College.
- MET pays in-state tuition and mandatory fees at Michigan public universities (Full and Limited Benefit plans) or in-district tuition and mandatory fees at Michigan public community colleges (Community College plans) up to the number of credit hours purchased.
- Students not attending a Michigan public university may direct funds to Michigan private colleges or out-of-state schools.
- Refund options are available for trade school, full-scholarship, military enlistment, death or disability, or not attending college.
- Payments made are deductible on a purchaser’s Michigan income tax form in the year they are made.
- When you use MET for qualified higher education expenses, earnings are exempt from federal and state income taxes.
Autumn Schneider, Blue Cross Blue Shield and Blue Care Network of Michigan
“We have invited MET to the yearly college fair we host for our employees several times and will continue to do so. The reality is that a major factor in making college decisions is the financial aspect. MET helps parents figure out how to make affording college and the possibility of debt-free college a reality for their children. Helping our employees to become educated about this wonderful option is a no-brainer for us at Blue Cross Blue Shield and Blue Care Network of Michigan.”
Kelley Peel, Reeths-Puffer Intermediate Muskegon, MI
“As a counselor of 5th & 6th graders, I think having parents understand that they can save for a semester or for all four years is important. The flexibility in these savings plans & tax deduction is a wonderful gift to young learners. Parents are also giving the message that they believe in their kids’ academic aspirations.”
Want to share education savings information at your organization? MET brochures are available for free upon request.
Interested in setting up payroll deduction for an existing MET? Submit a payroll deduction form to get started.
Request an Employer Kit
Get started and request your Employer Kit today! Kits include information on how to administer MET as a payroll deduction, sample employee communications, brochures and more.
To request your kit, call 1-800-MET-4-KID or email us at TreasMET@Michigan.gov