The thought of paying for college can feel overwhelming. The state of Michigan, however, makes it more manageable through savings plans and dual credit programs. 

If you're saving on behalf of your child or another loved one, the Michigan Education Savings Program (MESP) 529 is worth exploring. The program, administered by TIAA, is a tax-advantaged savings plan designed to help families save for college and other qualified education expenses. If your recipient decides not to pursue higher ed, you don't lose your savings. Funds can be transferred to a different recipient; used for qualified K-12 expenses at public, private and religious schools; and rolled into a Roth IRA. 

In addition, eligible high school students in Michigan can take college courses at no cost through the state's dual enrollment program. It's a great way to take that first step into higher education and earn college credits without paying college tuition. 

Financial Fridays Start April 10

During Financial Capability Month in April, TIAA will host three informational webinars about the 529 program, student aid and dual enrollment in Michigan. You can register for these free programs by clicking on the event links below. All webinars take place on Eastern Time. 

529 in 20 Minutes: Your Power Lunch Guide to MESP 529
Friday, April 10 – noon-12:20 p.m.
Get the essentials about MESP 529 college savings plans during your lunch break. You'll learn about how 529 plans work, potential tax considerations and steps to get started – whether you're saving for your child, grandchild or yourself. Recommended for parents with children in K-12.

Beyond Tuition: Your Complete Guide to 529 Qualified Expenses
Friday, April 17 – noon-12:30 p.m.

Maximize your 529 savings by understanding what qualifies as an eligible expense. Discover how funds can be used for room and board, books, supplies, technology, K-12 tuition, apprenticeship programs, and even student loan repayments. Recommended for parents with high school students.

How Your Student Can Earn College Credits in High School Through Dual Enrollment
Friday, April 24 – noon-1 p.m.

Discover how Michigan high school students can get a head start on their college education while still in high school. Dual enrollment offers students the opportunity to earn college credits before they set foot on a college campus, potentially saving both time and money on their degree.

Michael Baysdell, director of K-12 relations at Macomb Community College, will discuss:

• What is dual enrollment?
• How are dual enrollment classes paid for through the state? 
• Why this option can help students prepare academically and gain responsibility
• How does stacking dual enrollment/AP classes work?
• What is the Michigan Transfer Agreement?
• How can dual enrollment help delay the use of 529 funds for higher level college classes or graduate school?
• Types of programs available

The webinar will conclude with success stories from students who have benefited from dual enrollment.