Michigan Education Trust
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.
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- Program typePrepaid contract
- Enrollment periodThe Enrollment Period to purchase MET contracts is December 1, 2019 - September 30, 2020.
- State agencyMET Board of Directors and Department of Treasury
- Tax deduction
Ratings & Rankings
Our overall rating for MI residents
This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
Our overall rating for non-residents
This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Available tuition packages:
Benefits for beneficiary attending private or out-of-state institution:
Contract payment options:
Are program benefits backed by the full faith and credit of the state?
Are program benefits collateralized or guaranteed in any other way?
Fees & Expenses
Enrollment or application fee:
Taxes and other Benefits
- Tax deduction for single filers$5,000/yr
- Tax deduction for joint filers$10,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.