Spring into triple tax benefits

including up to $10,000 in state tax deductions for joint filers.

Triple Tax Benefits of an MESP Account

Your contributions can 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 ($5,000 single), for contributions made into an MESP account.

100% tax-deferred growth

Any earnings grow tax deferred. When you pay less taxes, you may have the ability to earn more and grow your MESP account faster—giving your beneficiary an even bigger head start!

Tax-free withdrawals for qualified expenses

Withdraw tax free for all qualified higher 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 typically 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.

Ready to start their college savings?

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

Open an Account