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Q: Does my grandchild have to go to a Michigan college? They are really young and I don't even know if they will want to attend college.
A: MET contracts are pretty flexible. While it typically works best to attend a Michigan public college or university, there are ways to pay private Michigan colleges as well as trade schools and out-of-state schools. If the child decides not to attend college they can decide to transfer their credits to another family member or terminate the contract for a refund.
Q: What happens if I'm not around when the child is college-aged? Can my child, the parent, take over the contract?
A: You do have the option to list one of the child's parents, or someone else, on the contract as an appointee. You can also decide whether or not that person can take over the powers of the purchaser if something were to happen to you. Whether or not you list someone else on the contract will not impact the beneficiary's ability to use their MET contract to pay for school. They will be able to initiate payment to the school on their own.
Q: Is it easy to set up a new MET contract? I am not really comfortable entering my information online.
A: Yes. You can either open a new contract by completing our secure online enrollment process. Or you can mail in your completed Contract Signature Page. If at anytime you have questions or need assistance, contact us at 800-638-4543.