The thought of paying for college can feel overwhelming. The state of Michigan, however, makes it more manageable through its Michigan Education Savings Program (MESP) 529.
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.
National College Savings Month Events
During TIAA’s free webinars in correlation with National College Savings Month in September, you’ll learn how to kick-start your higher education savings using the MESP 529. Events include:
MESP 529 Unleashed: Maximize Your College Savings
Wednesday, Sept. 2 – noon Eastern Time
Learn about college savings strategies with the MESP 529 College Savings Program. This event will cover key MESP 529 advantages and provide time for participant Q&A.
Topics will include:
- College funding fundamentals
- Higher education cost considerations
- Education savings options overview
- MESP 529 plan features and considerations
- Getting started with MESP 529
- Account management resources and tools
Beyond Tuition: Your Complete Guide to 529 Qualified Expenses
Thursday, Sept. 3 – noon Eastern Time
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. This event is recommended for parents with high school students intending to pursue higher education.
