How Michigan Launched a College Savings Program That Jump Started the 529 Plan Across America

How Michigan Launched a College Savings Program That Jump Started the 529 Plan Across America

If you’re a typical parent, it’s likely you’ve never heard of the Michigan Education Trust (MET) but it spearheaded the 529 plan movement. Proposed in 1986, this program was intended to “help parents guarantee their children the opportunity of a Michigan college education.” This new fund afforded parents the option to pay a nominal stipulated amount in return for the state agreeing to pay tuition at any Michigan public college.

Continue reading