FOR IMMEDIATE RELEASE September 20, 2022 Contact: [email protected]
Gov. Whitmer Announces 100 Winners of MET $1.5 Million Giveaway 100 Michigan children to benefit from $15,000 each in prepaid tuition
LANSING, Mich. — Today, Governor Gretchen Whitmer announced 100 winners of the Michigan Education Trust’s (MET) 35-year anniversary $1.5 Million Giveaway – a random, statewide drawing that friends and family could enter on behalf of a child for a chance to win one of 100 $15,000 prepaid tuition prizes.
“This giveaway celebrates MET’s 35 years of providing life-changing opportunities for Michiganders to save for children’s higher education and pave their way for a better future,” said Governor Whitmer. “As a MET alumna myself, this program is near and dear to my heart. My parents used MET to save for my future education and I’m guessing there are a lot of future leaders in all walks of life out there right now whose families are saving with MET.”
The governor was joined by Bureau Director Robin Lott of the Michigan Office of Postsecondary Financial Planning, within the Department of Treasury, MET Alumna Lisa Ingall, MET alumnus Nick Armes, and 10 of the 100 winners from all corners of the state.
A prudent investment strategy over the last decade resulted in a record surplus for MET, which can now be used to invest in Michiganders. Earlier this year, the MET Board of Directors unanimously agreed to use a portion of the surplus to elevate awareness of MET and provide more Michigan children with access to higher education that will help them prepare to compete in a modern workforce and solve future challenges.
Under MET’s giveaway, Michigan residents 18 years or older on August 31, 2022, were eligible to enter on behalf of children ages birth to 5 by the same date for a chance to win $15,000 in prepaid tuition. The prepaid tuition prize may be used to pay for future tuition and mandatory fees at a community college, college, university or trade school in accordance with MET terms and conditions.
“For 35 years, MET has been providing families peace of mind as they work to help provide their children with a debt-free start to pursue their dreams,” said Bureau Director Robin Lott of the Michigan Office of Postsecondary Financial Planning. “We are excited to shine a $1.5 million spotlight on MET and show parents, grandparents and others how it’s a safe, secure and flexible way to make sure their loved ones meet their future education and career goals. Our message is to remind Michiganders that while you can’t predict the future, you sure can prepare for it.”
Ingall, a 1998 University of Michigan graduate who now works for KLA, a global technology company that serves the semiconductor industry with a corporate headquarters in Ann Arbor, was part of the inaugural MET class.
“My mother told me when I was in elementary school, “You’re getting a college degree before you ever think about getting married,” said MET Alumna Lisa Ingall. “Her MET investment was the beginning of a hand-me-down tradition in our family of using the MET savings plan to make college more affordable for myself and other relatives – including my sister, my son, and soon my two nieces.”
In 2022, MET alumnus Armes landed a job with Major League Baseball’s Tampa Bay Rays after graduating from Central Michigan University.
“My journey to the big leagues didn’t start with my first glove, a new bat or a pitching regimen in my backyard,” said MET alumnus Nick Armes, a Livonia native who is director of fan experience at Tropicana Field in Tampa Bay. “It began the day my parents started saving for my higher education with the Michigan Education Trust.”
10 of the 100 winners told how the $15,000 will help their families.
About the Michigan Education Trust
Administered by the Michigan Department of Treasury, MET lets families pay today’s prices for future higher education costs. Signed into law in December 1986, it was the first prepaid tuition program in the nation.
More than 96% of high school graduates participating in MET have attended a college, university or technical school.
There are three types of MET plans: the full benefits plan, the limited benefits plan and the community college plan. Families can purchase one plan or mix and match options.
MET benefits can be used for postsecondary education at universities, colleges and technical schools. If a child chooses to attend a private Michigan school or out-of-state college or university, funds can be directed to that institution. MET benefits may also be transferred to other eligible family members and are refundable if the student chooses to attend trade school or does not attend college.
Parents, grandparents or other family and friends can make MET contributions on behalf of beneficiaries. MET has flexible and convenient payment options that allow purchasers to pay as they go, pay all at once or make monthly payments.
Contributions to MET plans are tax deductible on Michigan tax returns. Earnings are tax exempt if they are used for qualified higher education expenses.
More information about MET, including one-on-one consultation sessions with MET experts, is available at SETwithMET.com, 800-MET-4-KID or [email protected].
Expanding access to education and skills after high school
Governor Whitmer believes each Michigander deserves a path to a high wage job, and she is committed to making college degrees and skill certificates available and affordable for more residents.
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