MET Helps Make the Most of College Tuition Savings

The Michigan Education Trust (MET) opens a new, eight-month enrollment period on November 2, 2009. MET, the state's prepaid college tuition program, allows individuals and organizations to pre-purchase credits toward future tuition at today's prices for any of Michigan's public colleges and universities. The enrollment period runs through June 30, 2010.

"Since it was launched more than two decades ago, MET has been a convenient way to pay for college for thousands of Michigan families," said Robin Lott, MET executive director. "During uncertain times it is even more important to plan for a brighter future. MET is a smart way to gain peace-of-mind in planning for your child or grandchild's future education."

MET helps make the most of saving for college by allowing individuals and organizations to purchase tuition at today's rates. More than 17,500 students are currently using their MET benefits at Michigan public colleges and universities, private colleges, and out-of-state institutions.

Parents, grandparents and others can purchase a MET contract for a Michigan child or adult. MET offers three contract options: Full Benefits, Limited Benefits, and Community College. Contracts can be purchased in semester increments and convenient payment options are available. MET purchasers receive a state income tax deduction for the total contract price, including enrollment fees.

MET also offers its Charitable Tuition Program as a way for organizations to purchase one to four years of college for a deserving individual or child at a special discounted rate. Organizations can stretch their scholarship dollars with a MET charitable tuition contract.

Since its debut in 1988 as the nation's first prepaid tuition program, MET has sold more than 91,000 contracts. Not only are MET contracts portable to Michigan private and out-of-state colleges and universities, they may be transferred to other eligible family members. More than 90 percent of high school graduates with MET contracts have gone on to attend a college or university. Visit SETwithMET.com or call 1-800-MET-4-KID (800-638-4543) for enrollment information.

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