As families wrap gifts and gather around the tree this holiday season, the Michigan Education Trust (MET) is encouraging Michiganders to consider a present that delivers lasting value long after the decorations come down: prepaid college tuition.
With the end of the year approaching, Michigan families who open or contribute to a MET prepaid tuition account may also benefit from a state income tax deduction, making December an ideal time to start saving for a child’s future.
“The holidays are a time for giving with purpose,” said Diane Brewer, executive director of MET. “Helping a child pay for college is one of the most powerful gifts a family can give. Even small contributions can grow significantly over time and when those contributions are made before year’s end, many families can benefit at tax time as well.”
A meaningful gift today, a financial advantage tomorrow
With the year-end tax deadline approaching, MET is reminding families that:
Contributions made before Dec. 31 may qualify for a Michigan state income tax deduction.
MET locks in today’s rates, protecting families against future increases.
Prepaid tuition can be used at Michigan public universities and community colleges, and many private or out-of-state schools, providing flexibility as children’s plans evolve.
Digital gifting tools make it easy for grandparents, aunts, uncles, and friends to contribute as part of their holiday giving.
Whether a family is continuing a long-standing tradition like Sue Stock or Vadia Carroll-Kaltz or starting one for the first time, MET offers a way to give a child opportunity, stability and financial protection. MET is the kind of gift that lasts far longer than anything found under the tree. Families can learn more or open a MET online.
About MET
MET is Michigan’s Section 529 prepaid tuition program, allowing parents, grandparents and others to purchase undergraduate tuition credits at today’s rates. MET is administered by the Michigan Department of Treasury.
