LANSING—A great way for Southwest Michigan residents to help make a child’s dream to go to college come true is to give them the gift of higher education through a college savings plan, said Sen. John Proos.
“Continuing education and higher education are important for a career in today’s economy. They open doors to opportunities for getting a good job, making a good living and enjoying a quality life,” said Proos, R-St. Joseph. “This holiday season, I encourage Michigan families to consider giving the gift of education. It is easy to do and it’s a gift that can help lead to a world of opportunities for a loved one.”
There are two different college savings plans to choose from in Michigan: The Michigan Education Trust (MET) is a prepaid plan that guarantees tuition and mandatory fees at Michigan public universities, and the Michigan Education Savings Plan (MESP) is a college savings plan allowing families to save for tuition, room and board, and more.
Both options provide tax-free growth and a state income tax deduction for Michigan taxpayers.
Residents wishing to give and those wanting to set up an account for their child should visit the MESP’s website at www.misaves.com for details about the plan and how to donate. Click on “Give a Gift” to donate to a child’s existing MESP college savings plan or to set up a plan as a gift this holiday season. Friends and family can open up a new plan for as little as $25.
For information about the MET prepaid plan, residents should visit www.SetWithMET.com.
“For gift-givers, the site also has a feature that allows them to print a gift certificate that they can give to the child,” Proos said. “I remain committed to building upon our accomplishments to help create good, long-term jobs in Michigan. By helping invest in a college degree for a loved one, residents can give someone a greater chance at landing one of those jobs and having a long and successful career.”
Editor’s Note – Audio comments by Proos are available on the senator’s webpage at www.SenatorJohnProos.com. Click on “Audio” under the Media Center tab.