LANSING – State Representative Kate Ebli (D-Monroe) today voted to pass a plan that will help make college more affordable for working families by making it tax deductible for donors to pay into the Michigan Education Trust (MET) without specifying the donation for a particular child.
"The Michigan Education Trust is an extremely useful program that helps make college more affordable for our residents," Ebli said. "As the mother of a college student, I understand how difficult it can be for our working families to put a son or daughter through college. Thanks to the MET, some very kind and generous people from our state are helping make the dream of going to college a reality for our students. This plan will reward them for their much appreciated goodwill."
The Michigan Education Trust is a program that allows parents, grandparents, businesses and others to pre-purchase undergraduate tuition for a child living in Michigan for any Michigan public university or college – the catch is that the tuition must designated for a specific child in order for the contributions to be tax deductible.
Individuals and businesses that wish to purchase a large number of MET contracts for various groups – such as children from a particular school or town – currently cannot receive tax deductions for their generosity. Corriveau's plan allows anyone who makes charitable donations into the MET Advance Tuition Payment Fund, regardless of whether the donations are for a specific child, to receive a tax deduction.
"A well-educated workforce is vital to bringing jobs to Michigan and turning our economy around," Ebli said. "Ensuring more of our students have access to college will help Michigan build a top-notch workforce, bring new investments to our state and make Michigan a leader in the 21st century global economy."
For more information on the Michigan Education Trust, visit www.SetWithMet.com.