The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
Because everyone's life is full of changes; transferability is an important feature of MET. After the beneficiary of a MET turns 18 years old, all or a portion of the credits may be transferred to an immediate family member (as defined in the contract) without any tax implications. Typically, immediate family member is defined as the spouse, mother, father, brother, sister, legally adopted brother or sister, child, legally adopted child, niece, nephew or cousin of the first degree of the Beneficiary. Refer to the "Contract Definitions" section of your contract.
The original beneficiary of a MET has 15 years from their expected high school graduation date on the contract to use, terminate for a refund, or transfer their benefits.
To transfer a MET the original beneficiary needs to complete Form 2781 Notice to Transfer a MET Educational Benefits Contract and submit a $25 transfer fee.
Limitations on Transferability:
Contracts that have been terminated for a refund, use at a Michigan private, or out-of-state institution are not eligible for transfer.
If the original beneficiary has earned more than half the credit hours required for a four-year undergraduate degree at a Michigan public university, any remaining benefits transferred must be used at a Michigan public institution or terminated for a refund payable to a higher education institution as defined in the contract.
A contract cannot be transferred to a beneficiary who already has 5 years (10 semesters) of MET educational benefits.
Rollovers from Other 529 Programs:
MET accepts rollovers from other 529 programs (including MESP) and from the redemption of a Coverdell Education Savings Account or a Qualified U.S. Savings Bond. However, MET contracts cannot be rolled over to other 529 programs until the beneficiary is age 18 or graduated from high school.