College Savings Made Easy
Great news! The Michigan Education Savings Program (MESP) is available as an employee benefit. You’re probably familiar with 401k or 403b plans for retirement. A MESP account is similar, but it’s used to save for higher education. With low fees, and tax advantages for Michigan residents, MESP makes saving affordable. (*Limitations apply.) Because contributions can be made directly from payroll with direct deposit, it’s simple, too.
It only takes about 15 minutes to enroll. So let's get rolling!
For so many families, the Michigan Education Savings Program (MESP) is a smart choice. Here are just a few reasons why:
- State tax benefits
- 100% tax-free growth potential
- Financial aid friendly
- Use at eligible schools anywhere in the US or abroad
Plus we are here to help every step of the way.
REGISTER FOR A CONSULTATION OR WEBINAR
If you would like help or have additional questions, the Michigan Education Savings Program (MESP) offers free consultations with a college savings specialist. You can schedule an in-person consultation in our local offices in East Lansing, Southfield, Grand Rapids or Ann Arbor, a phone consultation or attend a webinar.
Set up your Michigan Education Savings Program account
- Open a new account
- Add Direct Deposit to an existing MESP account
[ Skip to Step 2 ]
- Rollover an existing 529 account from elsewhere
DOWNLOAD ROLLOVER FORM
Tip: If the payroll direct deposit will be your method of initial funding, select $25 as your initial contribution and “Fund by Check.” Your first payroll direct deposit will be your initial contribution.
Download and submit the MESP Payroll Direct Deposit Form
- New and current account owners must complete and return form to MESP
- You may also set up automatic contributions from a bank account
Tip: The MESP Payroll Direct Deposit Form must be processed by MESP before the first payroll direct deposit contribution (may take up to 10 business days).
Before you proceed to the next step make sure you have opened a MESP account (or have an existing account). Complete and mail the MESP payroll direct deposit form.
Identify Employer Payroll Method:
Use the following direct deposit instructions:
- Code the account as "checking"
- Routing number for State Street Bank: 011000028
- Account number: MESP ID 99055121 + 9-digit employee SSN or TIN
- Enter contribution amount per pay period (for each beneficiary and investment option)
CENTRALIZED PAYROLL PROCESS
Submit a copy of your MESP Payroll Direct Deposit Form to your employer's payroll department.
Need Employer Instructions? Other Questions?
Confirm that your MESP payroll direct deposit form has been processed by MESP -
Call 1-877-861-6377 (M - F 8:00A - 8:00P ET).