In Michigan, suggestions for saving for 4 year old's college? Thoughts on MESP?

Question

Thanks!

Answer 1

2007 Contract Enrollment October 1, 2006 thru January 31, 2007 and April 1, 2007 thru July 31, 2007
for the MET
Michigan Education Trust

Kid has to go to college in Michigan

I put a chunk of $ in 1988 when it first was offered-( he was 12 so itcost me more than it would you with a 4 year old)

Son graduated with his Bachelors degree from U of M

all I had to pay was for his books ( buy them on line thru eBay or amazon.com- cheaper)and then resell them on line


http://www.michigan.gov/treasury/0,1607,7-121-1752_2235_2236---,00.html

Answer 2

I used the College Illinois program to pay for my daughter's college. I highly recommend a similar program. If MESP is like College Illinois, you will be purchasing and paying for tuition and fees at today's rates. Being that College tuition increases about 7-10% every year, in 14 years it would increase over 150%. You would lock in the tuition and fee cost at today's rate, and pay for that amount over the next 14 years....paying it off before he/she starts college. The College or University would then bill MESP for the tuition and fees every semester. Combinations of Community College and State University can also be done. (Why not get the General Education prerequisites done at the reduced rate of Community College....and then finish the degree at State University?) Big Savings!! As the child gets older, encourage sports or academic pursuits for scholarship possibilities that would further reduce the costs of education.

Answer 3

Save the 4 year old's efforts. Grades. I watched a friend's daughter go to school 7 hours a day, study four a day, and get a fulle ride scholarship to college. I divided the value of the scholarship by the hours invested - she got $8.00 AN HOUR for each of the 11 hours a day she invested for four years of high school.

So invest in create an in envirnment where she loves to study.

You cannot save that kind of money. If you can - funding college is not really a worry for you.

Answer 4

We are using Upromise for our little boy. Its an easy to save check it out.

Answer 5

i live in mich and im always hearing about the "gerber life grow up plan" and i think if he/she is under 8 years you still qualify... but don't take my word for it.