Michigan Education Savings Program (MESP)

Enjoy tax-free college savings growth.

With an MESP account, any earnings in your child’s account grow 100% free from federal and state taxes.

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Tax Benefits of an MESP Account

step1Step One

State Tax Deduction

Qualify for a state tax deduction up to $10,000 if married filing jointly, ($5,000 filing single) for contributions made into an MESP account. Limitations apply.1

step2Step Two

100% Tax-Free Growth

Any earnings grow 100% free from federal and state taxes which can mean more money for college.

step3Step Three

Tax-Free Withdrawals

Withdraw tax free for all qualified education expenses at accredited universities, colleges, or trade schools for tuition, room and board, books, computers and more.

Why an
MESP
account?

Your 529 plan is financial aid friendly

Your 529 account is viewed as a parental asset for financial aid purposes and counts less against aid eligibility than the same funds held in your child’s name.

Your child gets more opportunities

Savings can be applied to any accredited college or university across the country and abroad, as well as at trade schools, community college and technical institutions.

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.

Ready to start their college savings?

The sooner you start, the more they'll have for college.

Helpful college savings advice is available via email or phone.