Saving for college has become one of the most important financial goals, like buying a home or saving for retirement. Start saving for your child’s future college education as soon as you can. Small contributions add up over time.
In an effort to meet the needs of all residents, the state of Michigan offers both a pre-paid plan and college savings plans. Each option offers a State of Michigan income tax deduction and tax deferred earning potential, as well as tax free withdrawals when funds are used for qualified educational expenses.
The Michigan Education Savings Program direct sold 529 college savings plan is managed by TIAA, Tuition Financing Incorporated. MESP was established in 2000 and TIAA has been the plan manager since inception.
Learn More About MESP and 529 Plans
- Visit the MESP website
- Watch a video about how to enroll in MESP
- Watch a video about 529 plans
- Download a 529 plan printable fact sheet with FAQs
Benefits of an MESP College Savings Account
- 100% tax-free growth for qualified withdrawals means more money for college
- Use at any accredited school in the U.S. or abroad
- Flexible investment choices
Join MESP in a live webinar to learn more about the state of Michigan’s Direct-Sold 529 program. You can access the interactive session from your computer and interact with live presenters. RSVP today and instructions will be sent to you via email.
View a list of upcoming MESP webinars and register today.
Schedule a Free Consultation
If you would like help or have additional questions, MESP offers free consultations with a college savings specialist. You can schedule a consultation to discuss your college savings goals and ask questions about the program. Request an appointment.
MESP Earns Top Rating for Third Straight Year
Morningstar analyzed 54 education savings plans in 2022. MESP was one of two to earn a “Gold” rating, and the plan was praised for its “excellent stewardship” and “well-designed, low-cost offerings.” Plans receiving “Gold” ratings are considered “industry standard setters” by Morningstar. For more information about Morningstar's overview of the Michigan Education Savings Program, visit the Morningstar website.
Past performance does not predict future results. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions.