Light up their faces and their futures with college savings
Brighten the season with the gift of college savings and open an MESP 529 account today!
Triple Tax Benefits of an MESP Account
Your contributions go further with MESP tax benefits.
State tax deduction
MI taxpayers may qualify for a state tax deduction up to $10,000 if married filing jointly ($5,000 single) for contributions made into an MESP account.
100% tax-deferred growth
Any earnings grow tax-deferred. When you pay less taxes, you may have the ability to earn more and grow your MESP account faster—giving your beneficiary an even bigger head start!
Tax-free withdrawals for qualified expenses
Withdraw tax-free for all qualified higher education expenses at any eligible college, university or trade school for tuition, room and board, books, computers and more.
Why an MESP account?
Your plan is financial aid friendly
Your 529 account is typically viewed as a parental asset for financial aid purposes and may count less against aid eligibility than the same funds held in your child's name.1
Your child has options
For MI taxpayers savings can be applied to any eligible college or university across the country and abroad, trade schools and even professional schools and graduate schools.
You have more control
You're never locked in and can withdraw your funds for any reason at any time.2
You enjoy more flexibility
Funds in your child's account are transferable to another eligible family member, which includes siblings, stepchildren, parents, even first cousins.
