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Michigan 529 Day Celebration is a Win-Win for Families Looking to Save for their Children's College Education
May 20, 2021
In celebration of National 529 Day, the Michigan Education Trust (MET) is providing families who sign up to give the gift of higher education savings to their children with a special gift of their own.
MET, the state's 529 prepaid college tuition plan, will offer a $50 match and waive the $25 enrollment fee on new contracts opened between May 21 and June 5. See SETwithMET.com for rules and eligibility.
Administered by the Michigan Department of Treasury, MET allows contract holders to secure future college tuition credits at today's prices.
"MET is an effective way for Michigan families to start saving for higher education regardless of their budget," said MET Executive Director Diane Brewer. "Efforts like National 529 Day highlight the importance of college savings while providing us unique opportunities to encourage families to start thinking about and planning for their children's future."
MET is hosting a series of webinars throughout the year to inform families about Michigan college savings plans, including features and benefits of MET contracts as well as the tax advantages of 529 savings plans like MET.
Held each year on May 29 - or 5/29 - 529 Day shines a spotlight on the importance of saving for college and how Section 529 plans can help families meet their goals. Named after the portion of the Internal Revenue Code that allowed for their creation, 529 plans are tax-advantaged savings vehicles offered by states.
Purchasers can open a MET contract online at SETwithMET.com using coupon code 529DAY. Only one account per beneficiary qualifies for the match, and MET will make the match after account holders complete their purchase of at least one credit hour of prepaid tuition.
About MET: Administered by the Michigan Department of Treasury, MET is Michigan's Section 529 prepaid tuition program that locks future tuition at any of the state's public universities and colleges at today's rates. MET contracts are portable to out-of-state and Michigan private colleges and universities, may be transferred to other eligible family members and are refundable if the student does not attend college. More than 96% of high school graduates with MET contracts have attended a college or university.
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