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Saving for Your Child's College Education

Lawmaker who represents Hartland provides updates and views on various topics.

By Cindy Denby

Saving for your children's college years can be a daunting task. Every year it seems the cost of a college education increases.

The Michigan Education Trust (MET) is an excellent way to invest in your child's future. The trust allows individuals to pre-purchase credit hours toward future tuition at any of the state's public universities, colleges and community college to lock in today's tuition rates.

The 2013 enrollment period is ongoing through Sept. 30 of this year. Prices for enrollment are still at 2012 tuition and will continue at that rate until April 30. Starting May 1 the prices will increase by 1.5 percent.

Parents, grandparents, guardians, and other family friends can purchase a MET contract for a child. MET offers three contract options: Full benefits, limited benefits and community college. They are available in semester increments with several available payment plans. In addition, these payments are eligible for a state income tax deduction for the total contract amount.

I encourage parents who are looking for a way to invest more in their child's future to look into the MET tuition program. For more information about this great program visitwww.SETwithMET.com

If you have any questions or need assistance with any state issues, please contact me toll free at 866-828-4863 or via e-mail at cindydenby@house.mi.gov.

JC February 22, 2013 at 02:52 PM
If you happen to work for a company that offers a discounted stock purchase plan annually you can roll that into a MET or other dedicated college fund. In our case that equates to a 15% or greater discount.

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