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Michigan Education Trust Announces More Than 36,000 People Signed Up for $1.5 Million Tuition Giveaway
June 14, 2022
The Michigan Education Trust (MET) today announced more than 36,000 Michiganders have signed up for the MET 35th Anniversary $1.5 Million Giveaway, a random, statewide drawing that families and friends can enter on behalf of a child for a chance to win one of 100 $15,000 prepaid tuition prizes.
As of today (June 14), the MET 35th Anniversary $1.5 Million Giveaway has received 36,717 entries.
“The response by Michiganders to this life-changing giveaway is outstanding,” MET Executive Director Diane Brewer said. “It’s exciting to see so many people enter to help children achieve their dreams. This giveaway can provide a child with a $15,000 head start toward their future. I encourage parents, grandparents and other family members and friends to go to www.METgiveaway.com and enter today.”
Under MET’s giveaway, Michigan residents 18 years or older on Aug. 31, 2022, are eligible to enter on behalf of beneficiaries ages birth to 5 by the same date for a chance to win $15,000 in prepaid tuition. A person may enter only once, but multiple people may enter on behalf of the same child. The prepaid tuition prize may be used to pay for future tuition and mandatory fees at a community college, college, university or technical school in accordance with MET terms and conditions.
The giveaway is not being funded by state tax dollars. A prudent investment strategy over the last decade has resulted in a record surplus for MET, which can now be used to invest in Michiganders. Earlier this year, the MET Board of Directors unanimously agreed to use a portion of the surplus to elevate awareness of MET and provide more Michigan children with access to higher education that will help them prepare to compete in a modern workforce and solve future challenges.
Giveaway entry began May 26 and ends on Aug. 31, 2022. Winners will be announced in a series of drawings beginning Sept. 12. Michiganders can enter the giveaway and review rules and eligibility criteria at www.METgiveaway.com.
About the Michigan Education Trust
Administered by the Michigan Department of Treasury, MET lets families pay today’s prices for future higher education costs. Signed into law in December 1986, it was the first prepaid tuition program in the nation.
More than 96% of high school graduates participating in MET have attended a college, university or technical school.
There are three types of MET plans: the full benefits plan, the limited benefits plan and the community college plan. Families can purchase one plan or mix and match options.
MET benefits can be used for postsecondary education at universities, colleges and technical schools. If a child chooses to attend a private Michigan school or out-of-state college or university, funds can be directed to that institution. MET benefits may also be transferred to other eligible family members and are refundable if the student chooses to attend trade school or does not attend college.
Parents, grandparents or other family and friends can make MET contributions on behalf of beneficiaries. MET has flexible and convenient payment options that allow purchasers to pay as they go, pay all at once or make monthly payments.
Contributions to MET plans are tax deductible on Michigan tax returns. Earnings are tax exempt if they are used for qualified higher education expenses.
Ron Leix, Treasury, 517-335-2167