September is College Savings Month
Gear up for a new school year with a $100 bonus*
"Back-to-school" will be "back-to-college" before you know it. Open a new Michigan Education Savings Program account between 9/1 - 9/30 and receive $100 bonus!
Don't let the clock run out!
Get your bonus before the offer ends.
Open a new account and get a $100 bonus.
Open a new account:
Start by opening a new account with a $1,000 deposit or more.
Take advantage of the offer:
Meet the eligibility requirements by funding your account within 10 days.
Receive the bonus!
Your bonus will be deposited in your account on or before January 31, 2024.
*Click here for complete Terms and Conditions.↩
Tax Benefits of an MESP Account
See 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 ($5000 single), for contributions made into an MESP account.
100% tax-deferred growth
Any earnings grow tax deferred. When you pay fewer taxes, you can earn more and grow your account faster.
Tax-free withdrawals for qualified expenses
Withdraw tax free for all qualified education expenses at any accredited 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 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 accredited 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 cousins.