MET Launches Referral Program for College Savings Month

Through September, both existing MET purchasers and new contract purchasers can benefit from the new initiative

In recognition of Gov. Gretchen Whitmer proclaiming September as College Saving Month in Michigan, the Michigan Education Trust (MET) is making it easier for families to take the first step toward paying for college with a new referral program that rewards Michiganders for helping friends and family discover the benefits of opening a MET.

“As families across the state of Michigan head back to school in September, College Savings Month provides a natural opportunity to expand awareness around starting to save for future higher education,” said Megan Patino, executive director of the Michigan Education Trust, the state’s 529 prepaid tuition savings program. “No matter what grade a student is in, now is always the best time to start saving for college. The sooner you start saving, the less you will have to worry about rising higher education costs.”

Existing eligible MET purchasers who refer MET to their friends or family will receive $100 in their MET contract while new contract purchasers (those opening a new MET and meeting eligibility requirements) will receive a $200 bonus when they make an initial contribution of $500.

“This referral initiative helps eligible existing MET holders earn a bonus if they refer a new contract purchaser to MET during the active window,” Patino said. “So much of what we do relies on the people who already know the value of having MET to help them save for their child’s future. We could not think of a better way to encourage current MET purchasers to help us spread the word and expand access to others they already know.”

Eligibility criteria to consider includes:

• New contract purchasers must use the current MET purchaser’s contract number as the promotional code during the online enrollment process.
• New contracts must be opened between Sept. 1, 2026, and 11:59 p.m. Eastern time on Sept. 30, 2026.
• The bonus is limited to $200 per new beneficiary.
• The referring purchaser’s bonus is limited to $500 per beneficiary ($100/referral, maximum of five referral bonuses).
• Contracts in “paid in full” status are not eligible for a referral bonus; however, new purchasers who use an existing “paid in full” contract number as the referral may still qualify for the referral bonus if they meet the rest of the eligibility requirements.

For the complete list of eligibility criteria, visit the Michigan Education Trust.

According to the Michigan Higher Education Institutional Data Inventory, the average cost of tuition and mandatory fees at Michigan’s public four-year universities has increased by roughly 46% over the past decade.

Bill Lambert and his wife, Meg, started MET in the 2000s for their four daughters, including triplets. All four siblings have graduated from college without having to worry about tuition costs, so they are happy to refer others to the program.

“As they say, ‘Hope is not a plan,’ but being proactive is,” said Meg Lambert.

“For future grandchildren, we would definitely invest in MET,” said Bill Lambert.

“You will never lose the amount you put in. Knowing that people had done it before successfully makes you that much more confident. So, if we can spread that news …,” said Meg Lambert. “This is the best investment ever. Buy it now and you have it when you need it. And if you don’t use it with your child, you can move it around the family. If you are hesitant about getting a MET contract, just buy it. Nobody loses.”

“We always say that the best time to start saving for the future is now,” said Patino. “This referral program gives new purchasers an added incentive to get started while rewarding current purchasers for sharing the benefits of MET.”