Michigan 529 College Savings Plans
Michigan offers a direct-sold 529 savings plan (MESP) and an advisor-sold 529 plan (MI 529 Advisor). Michigan also offers a prepaid tuition program (MET) open to Michigan beneficiaries.
- Tax deduction for single filers$5,000/yr
- Tax deduction for joint filers$10,000/yr
The Michigan Education Savings Program is similar to other TIAA-managed 529 savings programs. The Program features an age-based option, four multi-fund options, a single fund option and a principal protection option.
The Michigan Education Trust prepaid tuition program offers several options to the Michigan family to lock in tuition at Michigan public institutions. What makes this program different than most is that contributions are irrevocable.
Advisor Sold Plans
The mission of Michigan Achieving a Better Life Experience Plan is to encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence, and quality of life.