Saving For Your Child’s Education

“Saving for your Child’s College Education”: 
Presented by the Michigan Education Savings Program (MESP)

Saving for college doesn’t have to be out of reach when it comes to your child’s hopes and dreams.  Learn more about saving for college with a FREE online webinar presented by the Michigan Education Savings Program.  MESP can help you start your child’s future today!

The webinar was hosted byRenee Hill, Program Manager for the Michigan Education Savings Program and FOX 2 and WWJ’s Business Editor, Murray Feldman. Take advantage of this convenient and free opportunity to learn more about saving for your child’s future education –and find out how you could maximize your tax savings in 2011.


slide1 Saving For Your Childs Education

Presentation Slides

Click Here to follow along with the presentation slides.

(More Financial Fitness Webinars)

  • Kacey

    I have three children, ages 10, 7 and 4. Is it better to contribute to the MESP accounts equally? Or should I be doing it differently? Are there other considerations?

  • Mary

    There are a variety of college savings plans out there…other states’, banks, etc. What are some of the advantages of using MESP?

  • Crazy About Grandbaby

    As a new grandparent, I’m thinking about setting up or contributing to a college fund for my new grandbaby instead of buying toys and clothes she doesn’t need for birthdays and other holidays. Is it better to add to an account that her parents establish (if they do), or should I set up a separate account for her? Can a child have multiple MESP accounts, set up by different people? What do other grandparents/aunts/uncles do? What would you recommend?

  • Will

    whats teh difference between a 529 plan and MESP?

  • A Team

    If my child does not go to college/university, can the money be transferred to another member of the family – myself or a my nephew?

  • C. Norris

    Money magazine says the state of Michigan’s 529 plan is one of the country’s best. What makes the MESP plan better?

  • v. Interested

    Can MESP accounts be use for students at both, the Sate universities and at any of the smaller, private colleges and universities in the state?

  • Katerina

    Can the funds be used for other states? Other countries? Also, can the funds be saved through a childs undergraduate studies and put towards medical or law school or other advanced degrees?
    How does this effect Pell grant eligibility?
    When the funds are applied towards education, is the money reported as income for the parent(s) or the child.
    What is the maximum age of a child that can be enrolled in the program?

  • WWJ Offers ‘Financial Fitness’ Live Webinar Program « CBS Detroit

    […] Noon Thursday, April 7 Michigan Education Savings Program “Saving for Your Child’s College Education” Presenter: Renee Hill, Program Manager for the Michigan Education Savings Program Details here.     […]

  • Shari

    If my student enters the armed sevices in their college funding program and then starts college after that time, does that affect MESP funding?

  • Cathy

    If my child receives a scholarship for college tuition can the MESP plan be transferred to a sibling without tax implications?

  • Bill

    If grandparents want to contribute to my child’s MESP account, can they do so in the same account — or do we need to open a separate account for each donor?

  • Marc

    Can I roll my existing ESA plan into the MESP?


    I have a 5 year old daughter – I opened an MESP account for her a few years ago and have appx $5,000. in it to date. Would there be any benefit or deterrent to also opening a MET (Michigan Education Trust)

  • George

    What about studying abroad? Can my child use MESP funds overseas?

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  • Sam

    As the account owner, do I have any control over how the funds are invested? More aggressive vs more conservative…

  • George F.

    Is there a minimum amount that you have to contribute each year, month??

  • A Michigan Resident

    The idea is to bring down the operating costs of University, Inc. Michigan has taken the hardest economic hit in the country yet our state students are forced to pay out big money for tuition, room and board to attend a state funded institution. But your child may not get into a state funded university since they’ve been displaced by out of state challengers paying higher fees. Placing a mortgage on Michigan students will suppress any economic improvements Michigan makes. Michigan needs smarter and healthier people to run the state’s business and economy. The high cost of a university degree can only sustain Michigan failure.

    • John D

      Do you have a question for MESP?

  • Earl

    If something happens to me, (death), who then becomes the custodian of the account?
    I understand that the benificiary would be my son, however, I would not want the control of the fund to be in the hands of my ex.

  • Taneisha

    Will my child ‘age out’?? What if he doesn’t go to school until he’s older… late 20’s or beyond?? 30? 40?

  • Sally G

    I have a Uniform Gift To Minors Acct… what is the advantage of MESP vs UGMA?

  • Jim

    I have three kids 11, 9, 8. Nothing has been done due to economy. If I save $2000 per child starting now for each will that budge what’s needed.

  • Not Tech Savvy

    Is there someone, an actual person, who I can speak with about setting up an MESP account.?? I’d like a person to help me, not just a website.

  • gjfox

    I have a six month old. If I don’t have an emergency fund (3 months salary) in the bank. Should I start investing in college?

    • gjfox

      Basically, which should get priority?. An emergency fund or college fund.

  • Wondering

    How would I know how my MESP acct is doing? Do I have to go to a website, or would I get a statement, like I do from my bank? If so, is it Monthly or Annually?

  • Frank

    Ca I roll over a Maine 529 (now through a broker) to a Michigan 529 or a MET? Any penalty? Thanks

  • Wanting to Share

    Great Info. Thanks!! I’d like to share this webinar with a couple of my friends. Will this be available after today??

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    […] Source: Saving For Your Child's Education « CBS Detroit […]

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