LANSING, Mich. (WILX) - The Michigan Education Trust is celebrating 30 years of helping parents pay for college.
And to mark their anniversary as the nation's first prepaid tuition plan, they will be awarding a total of $30,000 to ten families this year.
The awards will be given out through a sweepstakes plan called the “How We MET” Sweepstakes.
Each month from January through September, MET will randomly award $3,000 "Pay-As-You-Go" prepaid tuition contracts to sweepstakes entrants, eventually awarding a total of $30,000 to ten beneficiaries.
“We’re proud that we’ve been able to help Michigan families reach their college-savings goals for 30 years,” said Robin Lott, MET’s Executive Director.
“Our How We MET Sweepstakes are a fun way to celebrate that longevity while also putting other families on the road to achieving their higher education dreams.”
From January through August, MET will randomly select one $3,000 contract winner on the fourth Tuesday of each month, then announce the person’s name by the end of that month.
And in recognition of National College Savings Month in September, it will randomly draw two winners on Sept. 18. Those winners will be announced no later than Sept. 21.
The sweepstakes are open to Michigan residents 18 and older who will have children ages 0-17 as of Sept. 30, 2018.
They can enter at MET4College.com.
MET’s Pay-As-You-Go option allows purchasers to buy prepaid tuition in credit hour increments rather than on a semester basis, which requires a greater upfront investment.
Pay-As-You-Go contract holders can purchase additional prepaid tuition with contributions of as little as $25.
MET also sells contracts through lump sum and monthly purchase plans.
Beyond the sweepstakes, MET will stage a variety of anniversary activities under the “How We MET” banner throughout the year. The theme is meant to highlight the higher education journey thousands of families and students have taken during the past 30 years with MET’s assistance.