April 24, 2014
2:20 pm

E-Gifting for Education Savings

It's not likely mere coincidence that the folks who run the Michigan Education Savings Program (MESP) elected to take the wraps off of a new savings donation option just weeks ahead of the traditional holiday gift giving season.  Rather, they unwrapped this new program just in time for people looking for unique and meaningful gifts for friends and family members.  

Michael Noone is the President of TIAA-CREF Tuition Financing.  They are the folks who manage the MESP.  Noone has announced a new e-gifting program that allows family and friends to contribute toward a child's education with a couple of clicks of their computer mouse.  In essence, they hope that despite the traditional contention that "not a creature was stirring...not even a mouse," a lot of grandmas, grandpas, aunts, uncles, moms and dads will "stir the mouse" a couple of times and plump up some of those sugar plums dancing in the heads of eager young learners.

So long as an MESP account has been established for the child, those wishing to add to their savings fund can go to a secure web page and use a credit card or e-check to make a gift of $25.00 or more into any existing account.  The program allows for such donations without having to provide the number of the account since account holders (typically the parents) can send a tactful, pre-written e-mail inviting relatives and/or friends to contribute through an established link that ties that message directly to the proper child's account.  

Noone says they're working to make it as easy as possible for people to provide a gift that can literally last a lifetime.  In fact, if the giver prefers, he or she can also send a check or money order (in this case with the account number included) or even open their own MESP account for a child.

The bottom line is it only takes a few minutes to complete the gift, and account holders will even receive a confirmation that a contribution has been made.  To help complete the gift, you can download and complete an MESP Gift of Education Certificate to be wrapped, framed or placed into a card for presentation as a physical gift at the holidays.  

Noone also says that contributions may also qualify for estate and gift tax benefits as well as state of Michigan income tax deductions, so givers should consult a tax adviser for details.  

To learn more about MESP you can visit www.MIsaves.com or call 877-861-6377.
Filed Under :
Topics : Education
Location : Michigan
People : Michael Noone