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LANSING — One hundred Michigan kids are set to profit from a $1.5 million tuition giveaway introduced Thursday by Gov. Gretchen Whitmer.
To rejoice the thirty fifth anniversary of the Michigan Education Trust, a random, statewide drawing shall be held to award $15,000 prepaid tuition prizes to 100 Michigan kids.
“This life-changing giveaway is an awesome way to celebrate 35 years of helping Michigan families save for higher education,” Whitmer acknowledged. “It will help more students attain the education and skills they will need to achieve their career goals and bring us closer to meeting our goal of 60% of working-age adults with a skill certificate or college degree by 2030.
“I would encourage any family thinking about saving for higher education to look into MET — as my parents did for me — and start today.”
Any Michigan resident age 18 or older can enter the competition on behalf of a beneficiary who shall be between beginning and age 5 as of Aug. 31, 2022. Entries are restricted to one per particular person, however a number of folks can enter on behalf of the identical youngster.
The entry interval opened May 26 and can stay open by Aug. 31. To enter and think about guidelines and eligibility, go to METgiveaway.com. Winners shall be introduced in a collection of drawings starting Sept. 12.
Prize cash could also be used to pay for future tuition and obligatory charges at a neighborhood faculty, faculty, college or commerce faculty in accordance with MET phrases and circumstances.
The giveaway shouldn’t be being funded with tax {dollars}, in accordance to a launch from the governor’s workplace. There is at present a report surplus for the MET because of “a prudent investment strategy.”
The MET Board of Directors unanimously agreed to use a portion of the excess to elevate consciousness of the MET and supply greater schooling entry to Michigan kids.
The Michigan Education Trust, signed into regulation in December 1986, is a prepaid tuition financial savings program that enables households to “pay for future higher education at today’s price.” Contributions to MET accounts are tax deductible and are refundable if the beneficiary chooses not to attend faculty.
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