Michigan Education Savings Program

Saving for College with a Michigan Education Savings Plan

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.

Information and resources on MESP

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.