Save for your loved one’s education in a TIAA managed state sponsored 529 plan.
Their dreams – and your future savings goals – can be easier to achieve. Unlike other investment accounts or future student loans, a 529 plan allows you to take advantage of additional benefits, both now and in the future.
Saving early is crucial.
In addition to the thousands of dollars a Michigan Education Savings Program (MESP) account can save via the income tax deduction, there is the potential for even larger gains due to the tax deferred nature of MESP. Money contributed to MESP and resulting investment gains are not taxed while the money is in the account. When it comes time to withdraw the funds, all contributions and earnings can come out tax free if spent on qualified higher education expenses.
For more information about a 529 MESP account please contact:
Jon Scott, Education Savings Consultant
Jon.Scott@TIAA.org
(517)855-8470