Trending...
- Roofman USA Expands Roofing Services Across Michigan, Adding Key Locations - 173
- Green Office Partner Named #1 Best Place to Work in Chicago by Crain's for 2025 - 160
- "Leading From Day One: The Essential Guide for New Supervisors" Draws from 25+ Years of International Management Experience - 151
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
- New Leadership and Renovations Usher in Next Chapter for Sunrise Manor
- Who Will Win the 2025 WNBA Finals? OddsTrader Shares Live Betting Odds and Projections
- Geeks5g Creative Marketing: The Powerhouse Behind Business Growth
- Two new inductees selected to the Trenton Educational Foundation's Wall of Fame
- Agemin Unveils Breakthrough AI Model for Biometric Age Estimation, Setting New Standards in Online Child Safety
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
- Leading Digital Finance Platform YNQTL Launches Revolutionary Web3 Digital Asset Trading Platform
- IDCXS Addresses Crypto Trading Pain Points with 2 Million TPS Processing and Multi-Layer Security Architecture
- Bridging Traditional Finance and Web3 Innovation: BLFCW Announces Strategic Vision for Regulated Web3 Economy
- NKSCX Responds to "Coordinated Smear Campaign" as Anonymous Critics Emerge Following Regulatory Milestones
- Broadway Gala Honored Also an Italian
- $ONI Listed on MEXC as ONINO Powers Europe's Tokenization Engine Into Public Platform Launch
- AZETHIO Crypto Exchange Whitepaper Reveals MPC-Secured Infrastructure Processing 1.2 Million Transactions Per Second
- CELOXFI Platform Demonstrates Advanced Security Architecture and Regulatory Framework
- Work 365 Launches PV 3.0: The Keystone Power App for Microsoft CSPs
- Local consultant shows small businesses how to turn red tape into real money
- Nora Knople Honored as a Leader and Innovator in Hypnosis
- Tour Napa Like a Local: Vines of Napa Valley Wine Passport AKA Vine Pass Unlocks Hidden Gems
- Dental Surgical Center Accepts Sedation Patients with Medicaid for MD, WV, PA and DC
- Sloan's Lake Dental Launches New Website to Enhance Patient Experience and Access to Modern Dental Care
- Only 3 Weeks Left till the Start of the OpenSSL Conference 2025
- Comerica Incorporated Names Kristina Janssens Senior Executive Vice President and Chief Risk Officer
- ENTOUCH Completes $50 million Funding Round
- Teaming Agreement with Emtel Energy USA to Advance Thin-Film PV Energy Storage Capabilities; NASA agreements for Solar Space Tech; Ascent Solar $ASTI
- Nebuvex Acknowledges Platform "Too Secure" for Anonymous Traders; Institutional Investors Disagree
- From Tokyo to Berlin: FreeTo.Chat Unites Cultures with the World's First Confession VRX — EmojiStream™