Saving for college with a Michigan Education Trust (MET) fund
Fox 2 Money Monday -
Many Americans will want to save money for their child's education, but tend to procrastinate. The Michigan Education Trust is reminding parents, grandparents, family and friends to begin the new year with a college savings plan.'
Starting at only $14 a month, it's simple to start contributing to a child's future with a MET college savings plan.
Robin Lott, Executive Director of the Michigan Education Trust explains the benefits to FOX 2's Murray Feldman.
"Investing in future college tuition is a smart financial move," said Robin Lott, MET's Executive Director. "Not only is MET a great New Year's Resolution, it also provides a state income tax deduction for the purchaser."
MET offers three contract options: Full Benefits, Limited Benefits, and Community College. Contracts can be purchased in semester increments with convenient payment options available. MET purchasers receive a state income tax deduction for the total contract price, including enrollment fees. Parents purchasing a contract for a newborn child can do so for as little as $14 a month.