Score big at tax time
Open an MESP account and get up to $10,000 in state tax deductions when filing jointly. Limitations apply.1
Tax Benefits of an MESP Account
See your contributions go further with MESP tax benefits
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
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
Withdraw tax-free for all qualified education expenses at any accredited college, university, community college, 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 counts less against aid eligibility than the same funds held in your child’s name.2
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 colleges and technical institutions.
You have more control
You’re never locked in and can withdraw your funds for any reason at any time.3
You enjoy more flexibility
Funds in your child’s account are transferable to another eligible family member, which includes siblings, stepchildren, parent even first cousins.
