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Get 3953, Michigan Education Trust (MET) Rollover Of Account Funds. 3953, Michigan Education Trust
Ct and the Important Information on the next page. Fill out the form using blue or black ink. Make sure the form is signed and mail it to your current Qualified Tuition Program (QTP). If you are making a direct rollover to MET, your current QTP may require a medallion signature guarantee on this form, or it may have additional requirements before releasing your funds. To avoid delays, call your current program for instructions before mailing this form. If you are making an indirect rollove.
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Inlaw FAQ
Contributions to the Michigan Education Trust are fully deductible from Michigan taxable income. Rollover contributions are not eligible for the deduction, ing to the Michigan Department of Treasury.
The MET, or Michigan Education Trust, is a prepaid tuition plan. You pay for college credits at today's rates and your child's future classes are covered. The MESP, or Michigan Education Savings Plan, is an investment plan, similar to a 401k that you might have at work.
Your MESP funds can be used at any accredited university in the country—and even some abroad. This includes public and private colleges and universities, apprenticeships, community colleges, graduate schools and professional schools. Up to $10,000 annually can be used toward K-12 tuition (per student).
MESP provides the maximum allowable 529 plan tax benefits available to Michigan taxpayers. When you contribute to an MESP account, any earnings can grow federal and Michigan income tax-deferred until withdrawn.
Michigan Education Trust (MET) is a prepaid tuition program that pays tuition and mandatory fees only. If you expect your tuition to be paid by MET, you must notify MET by calling 1-800-638-4543. MET will then send Central Michigan University a roster of students attending a given semester.
Who benefits from MET? MET can be used by healthy individuals to maintain muscle flexibility and to prevent injury. MET are also used as treatment for problems such as: Pain inhibited movement of neck, shoulders and back.
Contributions to the Michigan Education Trust are fully deductible from Michigan taxable income. Rollover contributions are not eligible for the deduction, ing to the Michigan Department of Treasury.
MESP funds may be used at universities, colleges, trade schools, graduate programs and certificate programs. Funds may be used at schools across the country and even some abroad. Use funds for tuition, books, certain room & board expenses, computers, tablets and other expenses.
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