September 01, 2026
WHEREAS, the constantly rising costs of higher education have outpaced inflation and the growth of family income, all of which pose a serious threat to the ability of our residents to ensure their children’s access to post-secondary education; and,
WHEREAS, the amount of student loan debt continues to rise, leaving college graduates with the ever-increasing burden of paying for their college education long after they have completed it; and,
WHEREAS, government, at both the federal and state levels, needs to encourage savings versus consumption and assisting rather than hindering parents, grandparents, friends, and businesses, as they seek to support the education of children, grandchildren, and others in need to help meet their higher education goals; and,
WHEREAS, a 529 plan is a tax-advantaged savings or investment plan designed to encourage saving for the future expenses of a designated beneficiary (typically one's child or grandchild), named after Section 529 of the Internal Revenue Code, and administered by state agencies and organizations; and,
WHEREAS, Michigan has been providing a prepaid tuition 529 program through the Michigan Education Trust (MET) for 38 years; a direct-sold investment based 529 program through Michigan Education Savings Program (MESP) for 26 years; and a broker-sold, investment-based 529 plan through the MI 529 Advisor Plan (MAP) for 17 years; and,
WHEREAS, throughout this month, we encourage all Michigan residents to learn more about the 529 plans available and their benefits, or research other ways to save for college;
NOW, THEREFORE, I, Gretchen Whitmer, Governor of the State of Michigan, and Garlin Gilchrist II, lieutenant governor of Michigan, do hereby proclaim the month of September 2026 as College Savings Month in Michigan.
