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State help with tuition savings

LANSING — Under a new partnership announced earlier in December, Michigan families can leverage their everyday purchases into college savings for their children and grandchildren similar to earning cash back for gas or groceries.

The partnership between the Michigan Education Savings Program and Upromise, a leading consumer brand, offers a free rewards program designed to help families save for college.

MESP is a state-sponsored, tax-advantaged 529 college savings plan created in 2000 to help Michiganders save for higher education.

To learn more about the program or to enroll, please contact, MIsaves.com/upromise22.

Managed by TIAA-CREF Tuition Financing Inc. on behalf of the Michigan Department of Treasury, MESP has more than 299,000 accounts with total assets exceeding $6.6 billion.

MESP contributions can be placed in a variety of investment options, where they grow tax-deferred and then can be withdrawn tax-free for qualified education expenses.

The savings program can be used at any eligible college, university or trade school in the nation for a variety of qualified higher education expenses, including tuition, fees, certain room and board costs, books, supplies and equipment required for enrollment.

Starting at $4.62/week.

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