MICHIGAN EDUCATION TRUST

In 2002, more than 67,000 MET contracts have been purchased with nearly 12,000 students currently using their contracts to attend college. MET offers three contract options: Full Benefits, Limited Benefits, and Community College.

It is also important to note that purchasers of MET contracts qualify for a state income tax deduction (total contract price including enrollment fees) while earnings on contributions are tax exempt to beneficiaries, if used for qualified higher education expenses.

The State of Michigan also offers the Michigan Education Savings Program (MESP), which allows parents to establish a savings account for educational expenses. More information on MET and MESP is available on the Department of Treasury Web site or by calling 1-800-MET-4-KID or 1-877-861-MESP.