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Contract Refund Options

Contract Refund Options

Each MET plan includes contract refund options based on the student’s (Beneficiary) situation and plan type. Termination is when MET credits are converted (terminated) into dollars payable to a school or the Refund Designee.

Photo of young adult female student holding books, isolated on blue background

Full Benefits

Refund options for the Full Benefits university plan is based on the tuition of Michigan public four-year universities, using either the weighted average, the average or the lowest rate.

Learn more about the
Full Benefits Plan  

  • Directs refund to the institution

    • Weighted average tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

    Directs refund to Refund Designee

    • Lowest tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

     

  • Directs refund to institution

    • Average tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

    Directs refund to Refund Designee

    • Lowest tuition. Lump sum paid to the Refund Designee.

     

    • Lowest tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.
    • Average tuition. Lump sum paid to the Refund Designee.
    • Lowest tuition. Lump sum paid to the Refund Designee.

     

    • Lowest tuition. Lump sum paid to the institution or the Refund Designee.

     

    • Lowest tuition. Lump sum paid to the Refund Designee.

     

    • Lowest tuition. Lump sum paid within 60 days.

     

" It was an easy, streamlined experience. The coordination between MET and my school was excellent. There was never a lapse in the payment process. "

- MET Beneficiary

Young adult female student on campus with books in her arms, isolated on a yellow background

Limited Benefits

Refund options for the Limited Benefits university plan is based on the tuition of Michigan public four-year universities, using either the weighted average, the average or the lowest rate.

Learn more about the
Limited Benefits Plan  

  • Directs refund to the institution

    • Weighted average tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

    Directs refund to Refund Designee

    • Lowest tuition. Lump sum paid to the Refund Designee

     

  • Directs refund to institution

    • Average tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

    Directs refund to Refund Designee

    • Lowest tuition. Lump sum paid to the Refund Designee.
    • Lowest tuition. Lump sum paid to the Refund Designee.

  • Directs refund to college

    • Lowest tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.
    • Lowest tuition. Lump sum paid to the Refund Designee.

     

    • Lowest tuition. Lump sum paid to the institution or the Refund Designee.

     

    • Lowest tuition. Lump sum paid to the Refund Designee.
    • Lowest tuition. Lump sum paid within 60 days.  
      ​

" I opened my first MET in the late '80s when the program was brand-new. I've watched it help cover community college, university and even graduate school for my family. It's one of the smartest things I've ever done - and it's never been easier for other families to get started. "

- MET Purchaser, Pam opened contracts for her daughter and grandchildren

Young male student with bookbag isolated on blue background

Community College Plan

The Community College Plan refund is based on the tuition of Michigan public community colleges using either the weighted average, the average or the lowest rate.

Learn more about the
Community College Plan  

  • Directs refund to the institution

    • Weighted average tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

    Directs refund to Refund Designee

    • Lowest tuition. Lump sum paid to the Refund Designee.


  • Directs refund to institution

    • Average tuition. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.

    Directs refund to Refund Designee

    • Lowest tuition. Lump sum paid to the Refund Designee.
      ​
    • Average tuition. Lump sum paid to the Refund Designee.
      ​

  • Directs refund to the university

    • Weighted average. Paid as necessary toward tuition and mandatory fees up to maximum refund allowed.
      ​
    • Lowest tuition. Lump sum paid to the Refund Designee.
      ​
    • Lowest tuition. Lump sum paid to the institution or the Refund Designee.

     

    • Lowest tuition. Lump sum paid to the Refund Designee.

    • Lowest tuition. Lump sum paid within 60 days.
      ​