Trending...
- Larry R. Wasion Highlights Jump Gate I: Time Chair. The Opening Novel in His Expansive Science Fiction Series - 148
- Homeowner Prep Announces Strategic Language Shift: Replacing "Renters" with "Future Homeowners" to Inspire Wealth-Building Mindsets - 134
- LiposoMore™ Redefines Bioavailability: Joyful Nutritional Launches High-Performance Liposomal Vitamin C and Iron for the Global Supplement Market
Contact: Ron Leix, Treasury, 517-335-2167Agency: Treasury
Nov. 15, 2019
The Michigan Education Trust (MET) Board of Directors announced today that the state's prepaid college tuition program will reopen enrollment on Dec. 1, allowing those who buy a contract by the end of the year to qualify for a deduction on their Michigan tax return.
MET contract holders are eligible for a tax deduction on their Michigan tax returns for purchases or contributions made by Dec. 31 each year.
As it does every year, MET closed enrollment on Sept. 30 in order to review and adjust pricing. During that time, it did not sell new contracts.
The Section 529 prepaid tuition program also announced that its contract purchase prices will remain unchanged until May 1, 2020. On that date, prices will increase 3% for limited-benefits contracts and 5% for community college contracts. The cost of full-benefits contracts will stay the same.
More on Michimich.com
That pricing structure will remain in effect through Sept. 30, 2020.
That means, for example, that until May 1, purchasers of Pay-As-You-Go contracts will continue to pay $612 for a credit hour of tuition under a full-benefits contract, which guarantees full payment of tuition and mandatory fees at any Michigan public university; $493 per credit hour under a limited-benefits contract, which covers up to 105 percent of the weighted average tuition of Michigan's public four-year universities; and $119 per credit hour for a community college contract.
MET also sells contracts through lump-sum and monthly purchase plans that require minimum purchases of a semester's worth of tuition.
The MET board cited rising fees charged by colleges as the reason for the community college and limited-benefits contract price increases.
MET, which is administered by the Michigan Department of Treasury, is a Section 529 prepaid college tuition plan that locks future tuition at any of the state's public universities and colleges at today's rates. MET benefits are used to pay tuition and mandatory fees.
More information about MET is available at SETwithMET.com or 800-MET-4-KID.
Nov. 15, 2019
The Michigan Education Trust (MET) Board of Directors announced today that the state's prepaid college tuition program will reopen enrollment on Dec. 1, allowing those who buy a contract by the end of the year to qualify for a deduction on their Michigan tax return.
MET contract holders are eligible for a tax deduction on their Michigan tax returns for purchases or contributions made by Dec. 31 each year.
As it does every year, MET closed enrollment on Sept. 30 in order to review and adjust pricing. During that time, it did not sell new contracts.
The Section 529 prepaid tuition program also announced that its contract purchase prices will remain unchanged until May 1, 2020. On that date, prices will increase 3% for limited-benefits contracts and 5% for community college contracts. The cost of full-benefits contracts will stay the same.
More on Michimich.com
- PandaGuarantee Launches Rent Guarantor Service in New York City
- The $112M Marketing Lesson Joe Whyte Learned: Why 'More Traffic' Is the Biggest Lie in Digital Marketing
- Daniel Kaufman Expands Kaufman & Company Real Estate Platform With New Acquisitions, AI-Driven Industrial Development and Nationwide Growth Initiative
- Cozy Manufactured Home Community Announces Largest Spring Sale in Its History: Unprecedented Savings
- Outdoor Tech Lab Launches Backcountry Pulse With Spring 2026 Camping Safety Field Report
That pricing structure will remain in effect through Sept. 30, 2020.
That means, for example, that until May 1, purchasers of Pay-As-You-Go contracts will continue to pay $612 for a credit hour of tuition under a full-benefits contract, which guarantees full payment of tuition and mandatory fees at any Michigan public university; $493 per credit hour under a limited-benefits contract, which covers up to 105 percent of the weighted average tuition of Michigan's public four-year universities; and $119 per credit hour for a community college contract.
MET also sells contracts through lump-sum and monthly purchase plans that require minimum purchases of a semester's worth of tuition.
The MET board cited rising fees charged by colleges as the reason for the community college and limited-benefits contract price increases.
MET, which is administered by the Michigan Department of Treasury, is a Section 529 prepaid college tuition plan that locks future tuition at any of the state's public universities and colleges at today's rates. MET benefits are used to pay tuition and mandatory fees.
More information about MET is available at SETwithMET.com or 800-MET-4-KID.
0 Comments
Latest on Michimich.com
- Explosive $10 Billion Counter-Drone Market with AI-Powered Defense Ecosystem: ZenaTech, Inc. (N A S D A Q: ZENA)
- High-Value Execution Phase Begins: Bitcoin Bancorp Ignites Texas Rollout of Digital Asset ATM Network: Bitcoin Bancorp (Stock Symbol: BCBC) $BCBC
- UK Financial Ltd Tokenized LTNS 1, A $1.1 T Asset-Backed ERC-3643 Security Token with 11 On-Chain Contracts Verifying, Compliant Real-World Value
- SelfCare is now HealthCare across America
- Christian Confessional Challenge - Anton Williams Holding Co
- Practical Theology in Post Modernity - Anton Williams
- Homeowner Prep Announces Strategic Language Shift: Replacing "Renters" with "Future Homeowners" to Inspire Wealth-Building Mindsets
- LiposoMore™ Redefines Bioavailability: Joyful Nutritional Launches High-Performance Liposomal Vitamin C and Iron for the Global Supplement Market
- GDE Tree Services Expands Operations into Sydney, NSW
- Tuckwell Machinery Expands CNC Range to Support Australian Cabinet Makers
- Pure Michigan Lawn Care Offers Limited-Time Discounts for New Customers in Howell, MI
- Pure Michigan Lawn Care Launches Lawn Care and Seasonal Cleanup Services in Howell, MI
- The Inner Power of Emotional Self-Leadership
- Dr. Nadene Rose Shares the Secret to True Success: Faith, Obedience, and Divine Purpose
- Understanding Unexpected Death: Why Independent Autopsies Matter in Cases Without Clear Cause
- Epic Pictures Group Sets North American Release Date for the Thriller NO ORDINARY HEIST
- Award-Winning REALTOR® Paige Coker Joins Corcoran DeRonja Real Estate
- Over 98% of crypto owners globally don't declare taxes, new report find
- TicTac Group acquires French EdTech company Distrisoft
- Mark Dobosz Makes Donorassess.org Free To Every Nonprofit On The Planet