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The Limited Benefits Plan provides:
- In-state tuition and mandatory fees at Michigan public universities or in-district or out-of-district tuition and mandatory fees at Michigan public community colleges at Michigan public universities or community colleges whose tuition does not exceed 105 percent of the weighted average tuition of all Michigan public four-year universities.
- Individuals may purchase in credit hour increments up to 150 credit hours (using Pay-As-You-Go) or semester increments (Lump Sum or Monthly Purchase up to 10 semesters (5 years)
- This does not exclude a student from attending any Michigan public university or college; however, full tuition will not be provided for those Michigan public universities or colleges whose tuition exceeds 105 percent of the weighted average tuition. Currently three Michigan public universities are included in this category; the University of Michigan Ann Arbor, Michigan Technological University, and Michigan State University.
For example, in academic year 2021-22, if a student with a four-year (120 credit hours) Limited Benefits Plan Contract attends the University of Michigan - Ann Arbor or Michigan Technological University, MET will pay for 108 credit hours. If that student attends Michigan State University, MET will pay for 116 credit hours (the majority of standard 4-year baccalaureate degree requires 120 semester credit hours). For all other Michigan public universities MET would pay for 120 credit hours.
- If a student chooses to attend a Michigan independent (private) college, funds can be directed to the college. The amount of funds will be based on weighted average tuition of the Michigan public universities at the time the student requests the funds, but not less than the amount paid for the contract. The funds are available in a lump sum for payment.
- If a student chooses to attend an out-of-state college or university, funds can be directed to the college or university. The amount of funds will be based on the lowest of the Michigan public universities tuition rates at the time of the student requests the funds, but not less than the amount paid for the contract. The funds are paid out over a four year period in equal installments.
- If a student chooses not to attend college or attends a trade school a refund can be directed to the refund designee as named in the contract. The refund amount will be based on the lowest of the Michigan public universities tuition rates at the time of the refund request, but not less than the amount paid for the contract. Refunds are paid out over a four year period in equal installments.
Additional information is available in Frequently Asked Questions.