Maximize your college savings

If you have a 529 college savings plan, such as a Michigan Education Savings Program (MESP) account, you might want to consider rolling over some or all of those funds into a Michigan Education Trust (MET) prepaid tuition contract.

Why?  Because MET allows you to lock-in tomorrow’s tuition at today’s rates.  It is impossible to know what tuition will cost tomorrow.  However, according to the College Board 2005-06 Annual Survey, tuition at four-year public colleges and universities increased by 7.1% this year alone. 

With a MET contract, you’ll never pay more for tuition than it costs today.  It’s that simple.  MET is a (guaranteed) reliable safeguard against the rising cost of college tuition.  MET contracts are easy to set up, easy to use, and an easy (and smart) way to round out your college savings portfolio.

MET accepts rollovers from all Qualified Tuition Programs, including 529 savings programs in Michigan and other states, Coverdell Education Savings Accounts, U.S. Savings Bonds, and more.  Click here for more information about rolling 529 account funds into MET.

In addition to contemplating a rollover of current funds, you should also consider purchasing a MET contract.  If you purchase before December 31, you can claim a state tax deduction for the total MET contract price, including enrollment fees.