LANSING — The Michigan Education Trust is encouraging families to consider using part of their tax refund to invest in future education costs.
Officials say tax refunds are often one of the largest lump-sum payments households receive each year, making them an opportunity to start or add to a college savings plan.
The Michigan Education Trust, or MET, is the state’s prepaid tuition program. It allows families to purchase future college tuition at today’s prices for use at Michigan public universities, community colleges, trade schools, and many private or out-of-state institutions.
Program administrators say opening an account has recently become more accessible after the minimum contribution was lowered to $25. Additional contributions can be made at any time.
More information about the program and account enrollment is available on the Michigan Education Trust website.