Today marks the beginning of our days of giving, and we will be featuring a variety of gift ideas.
Diane Brewer, executive director of the Michigan Education Trust, joined co-host Tati Amare on “Live in the D” to discuss a gift that will last a lifetime.
According to Brewer, the Michigan Education Trust, generally known as MET, is a 529 college savings program as well as a prepaid college program.
Brewer said that the parents and grandparents who have already signed contracts or are considering doing so, as well as other relatives, can make contributions. She said that it will all add up over time.
MET is now in the registration session for 2023, which began on Dec. 1. You can enroll by visiting the website, and for additional information, there will be a webinar on Dec. 6 at noon. The age range spans from newborn to adult.
Tuition costs tend to be rising all the time, but Brewer says MET helps people counter those increases because credit hours are purchased now. She said that the trust will make up the difference and pay the difference when the child attends college.
There are some tax advantages to a 529 scheme, and Brewer said that you get a deduction on your Michigan income tax.
To learn more about the Michigan Education Trust, as well as how to enroll the child in your life before the tax deadline, click or tap here.
Watch the video above for the full interview.