Mi pre-pay college program

MPACT will pay the full community college tuition and the purchaser will be entitled to a refund of the difference between the weighted-average university tuition in that year and what MPACT actually pays the community college. MPACT benefits can also be held for future use. In cases where the student has a community college contract, but attends a four-year university, MPACT will convert the community college hours into university hours based on the then current relative costs and pay the tuition.

This results in fewer hours on your contract, but enables MPACT to pay your university tuition until benefits are exhausted. As such, they should be reported as parental investments. Parents should report the refund values of all prepaid tuition plans they own for all dependent children. For help, call The MPACT program applies to these public community colleges and universities, but the benefits may also be transferred to private in-state schools as well as private or public out-of-state schools.

What is the current weighted average tuition rate? What are the tax benefits? Do you have a Legacy Contract purchased prior to ? For out-of-state or private institutions, MPACT will pay a rate equivalent to the weighted average tuition and mandatory fees at Mississippi public colleges and universities at that time.

Do you have a Horizon Contract purchased since ? For out-of-state or private institutions, MPACT will pay a rate equivalent to the weighted-average tuition and mandatory fees at Mississippi public colleges and universities.

What happens if I purchased a university contract but my child goes to a community college or vice versa? What if my child decides not to attend college or earns a scholarship? If your beneficiary receives a full scholarship , which covers tuition and mandatory fees, MPACT benefits can be held for future use or refunded to the purchaser.

The amount of the refund is based on 1 the current cost of in-state tuition and fees at the Mississippi public institution your beneficiary is attending or 2 the weighted-average tuition and fees at Mississippi public institutions if this child is enrolled at a private or out-of-state institution. To process the refund, a notarized Scholarship Refund Form must be completed by the purchaser and returned along with the proof of enrollment and proof of scholarship.

We help make saving for college achievable. Stress-Free Purchase a plan that locks in college costs for less. We manage the plan so you don't have to. Worry-Free Covers the cost of tuition and most fees. Optional Dormitory Plan available. Enter child's birth date:.

Control Build your own investment portfolio. You've been thinking about it, and now is the time to do it. Avoid rising tuition rates and save on college tuition by buying college credits at today's price with a MET prepaid tuition savings program. To help families start saving earlier for their child's future education, we are returning to a discounted, age-based pricing structure for the first time in more than a decade.

Switching to a discounted, age-based pricing structure--as opposed to charging one price across all ages--means families will realize significant savings the earlier they start saving with MET. Learn more. Our website is getting a new look. As part of a project to modernize websites for all state of Michigan executive branch departments, the we will be launching a new website in the coming weeks.

The site will look a little different and you will need to update your bookmarks, if you have them, but the same services and content will still be available. MET is a prepaid tuition program which allows you to pay for future education at today's rates. MET is flexible, transferrable and even refundable. MET allows parents, grandparents and other family members to save for the future, offering financial peace of mind.

MET goes where you go. Students may direct MET funds to Michigan private colleges, out-of-state schools or even trade schools.