September 16, 2025 • 10 mins
In this episode, iHeartRadio host Phil Tower welcomes Diane Brewer, Executive Director of MET, to the program as MET is commemorating September as National College Savings Month.
This year marks the first Michigan College Savings Month since MET lowered its minimum contribution to just $25 to support more Michigan families in starting to save for their child’s future education. The change opens the door for more families to take advantage of MET’s prepaid tuition benefits without the previous requirement of purchasing at least one credit hour upfront. With an initial contribution of just $25, families can begin building a secure pathway to future college costs and invest in their child’s dreams sooner. MET is also expanding outreach through free webinars that explain options, tax advantages, and strategies for maximizing savings.
Since its inception in 1988, MET, the nation’s first 529 prepaid tuition program, has helped thousands of Michigan students.
Michigan residents also have another option for saving for college: The MESP: College Savings Account
Online: Michigan 529 Program
Online: MET
This year marks the first Michigan College Savings Month since MET lowered its minimum contribution to just $25 to support more Michigan families in starting to save for their child’s future education. The change opens the door for more families to take advantage of MET’s prepaid tuition benefits without the previous requirement of purchasing at least one credit hour upfront. With an initial contribution of just $25, families can begin building a secure pathway to future college costs and invest in their child’s dreams sooner. MET is also expanding outreach through free webinars that explain options, tax advantages, and strategies for maximizing savings.
Since its inception in 1988, MET, the nation’s first 529 prepaid tuition program, has helped thousands of Michigan students.
Michigan residents also have another option for saving for college: The MESP: College Savings Account
Online: Michigan 529 Program
Online: MET
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
This is iHeartRadio's West Michigan Weekend. West Michigan Weekend is
a weekly programmed designed to inform and enlighten on a
wide range of public policy issues, as well as news
and current events. Now here's your host, Phil Tower.
Speaker 2 (00:17):
This is West Michigan Weekend from iHeartRadio. Once again, thank
you so much for tuning in. I am so glad
you have joined us. In this segment, we are celebrating
the fact that September is National College Savings Month. So
even if you have kids who are out of college,
this is important for you because you know what happens
with kids after they get out of college. They do life,
(00:40):
they do adulting, they get married, they have kids, and
then as grandparents, yes I said the g word. As grandparents,
you want to think about saving for your grandchildren's college
expenses as well. It's one of the best gifts you
can give your future grandkid to be. And on the
line with it is Diane Brewer. She is the executive
(01:02):
director of MET, the Michigan Education Trust College Savings Program.
This is an exciting thing to talk about because it
really is a life changer. Diane Brewer, first of all,
it's great to have you back on iHeartRadio. Thank you
for joining us.
Speaker 3 (01:18):
Oh, you're welcome, Thank you for having me.
Speaker 2 (01:20):
Well, we're celebrating College Savings Month. It's been officially proclaimed
as such here in the state of Michigan. This is
really important to talk about because it's one of those
things that you don't think about oftentimes, Diane, and you
hear this, I'm sure from people who said, boy, I
wish I would have started when my kid was born.
(01:40):
I wish I would have started when they were in
kindergarten er third grade. But the MET program is so powerful.
There's also the MASP program, which is Michigan's five twenty
nine programs celebrating twenty five years.
Speaker 3 (01:54):
Yeah, they came around in two thousand.
Speaker 2 (01:57):
Wow. It's really important that we talk about savings for
college because college is more expensive. It always gets more expensive.
It's kind of like everything in life. Prices go up
over time, there's inflation, there are changes, and it is
an important thing to begin preparing for.
Speaker 1 (02:15):
Diana.
Speaker 2 (02:16):
Want to shed some line in a great story that
your team shared with me about a woman from Saginaw
County who says the program, the MET program, actually changed
her life and she is a successful professional young woman.
But talk about this Christina, Christiana Malkia. She lives in
(02:36):
Saganaw County. She is a radio reporter with WSGW Radio
in Saginaw. But she's got a great MET story.
Speaker 3 (02:44):
Right she does? She does, And I had the opportunity
to meet Christina at a conference too. In just an
incredible young person.
Speaker 2 (02:53):
N So, she had a situation where her father was
left on permanent disability after car accident. Her mother was
trying to make ends meet, but because her parents had
opened a MET early on, her tuition was already covered.
She was able to go to school at Delta College
and earn a bachelor's degree later from WMU. She's talking
(03:16):
about how important that prepaid tuition was for her. So
let's do a recap, if you will, Diane, for how
the MET program works. It's a prepaid tuition program. You
can start for as little as twenty five dollars a month.
I think our listeners would be amazed to know that.
But twenty five dollars a month, and that could be
(03:36):
a gift for your grandchildren or for your child who
was just born recently, if you've got a new grandkid
in your life, this is something you want to take
note of, So talk about how the MET program works,
will you please?
Speaker 3 (03:48):
Definitely yes. Netteam around in nineteen eighty eight is when
we had our first contexts available to a Michigan residents.
And it is a five twenty nine And that's what
I need to distress the people because they think there's
only one, but there's a group and there's categories to
five twenty nine. So what MET is is a five
(04:10):
to twenty nine prepaid tuition program. And what you're actually
doing is buying credit hours at a day's rate for
use in the future. So you pay your price for
the credits today. MET the trust grows the fund to
meet the future costs of those credit hours. So it's
(04:30):
along the lines of having some insurance that you've got
a such amount of credit hours, be at one hundred
and twenty four a bachelor's degree, or maybe it's a year.
Maybe a grandparent wants to provide a year or two.
So it's not an all or nothing. But that is
the premise of prepaid tuition.
Speaker 2 (04:52):
And the thing you said, which I really want our
listeners to know about, is you're paying in today's dollars
for tuition. That was certainly be more expensive ten years
down the road from now, fifteen years down the road
from now. That's the whole point of a prepaid tuition program.
And as you said, this is part of Michigan's five
twenty nine college savings program, the MET is and it's
(05:15):
been around since nineteen eighty eight. It is important to
think about, Okay, if I pay for this today versus tomorrow,
you can start Diane for as little as twenty five
dollars to begin saving for someone. Maybe it's a grand kid.
Let's talk about that. If you've got a grandchild who's
been born, you can open a MET contract in their
(05:36):
name if you're a grandparent. Is that right?
Speaker 3 (05:39):
That's exactly right. And the tax advantages of doing that
if you're a Michigan resident, if you're paying income tax
in the state of Michigan, contributions to the five twenty
nine that you've purchased our schedule one deduction. So that's
one of the tax benefits to a five twenty nine program.
(06:00):
The other is on the federal level, is that as
earnings or as tuition goes up, these are not taxable.
There's no beIN tax in the end when they're used
for higher education, they're still tax free. In the event
that the student doesn't go to college and moneys are
(06:20):
not used for higher education at that point, than the
earnings would be taxable. But for the majority of our
students who have programs, they're using them. It's less than
half a percent that don't fully use their net benefits.
Speaker 2 (06:38):
And since it's beginning in nineteen eighty eight, the Michigan
Education Trust Program has helped thousands of people go to college.
Let's not overlook the fact that this has been a
real difference maker. It is a huge thing that you
want to look at, especially if you want to be
prepared that way. There are so many different ways you
(07:00):
can set up a plan. In fact, if for some
reason you've got a large sum of money you've been
setting aside for a grandchild, you can also buy the
whole four year program or two year program in a
lump sum. Is that correct as well?
Speaker 3 (07:17):
That's correct. Yeah, some people are still doing that.
Speaker 2 (07:21):
And there are community college programs, Diane with Mett.
Speaker 3 (07:24):
Yeah, yeah, there's three different levels of program. One is
community college, so you'd want to look at a mass
of sixty credit hours, and that pricing is based on
community college price. Then on a university level, we have
two program options and one provides cover ejects all of
(07:46):
the public universities all fifteen at the full rate. Then
there's one that's twice a bit less where it covers
the majority at full rate, but for those with higher
prices to kind of pro rate what the student has
when they actually go into college.
Speaker 2 (08:04):
So you have lots of options. We've got just about
two minutes left. I want to really stress Diane, you
and your team have put together all kinds of great
resources for people who want to start a MET savings
program for their grandchild or their own child. You've got
free webinars that are offered on a regular basis. How
(08:24):
can people learn more to learn how to get a
MET contract started for their child or grandchild?
Speaker 3 (08:32):
Definitely, you know a website is set with METS dot
com and there's information on webinars schedules. We also do
a lot of one on one appointments on a phone
or virtually and online. You can sign up for one
on one if you want some specific questions answered. Most
(08:53):
contracts now people do enroll online, but we would gladly
have a conversation and let's you'll pay performs too.
Speaker 2 (09:02):
Yeah, I'm so glad you said that. I can't recommend
met highly enough. It is a terrific program. There's also
the MASP five twenty nine program here in the state
of Michigan. You can learn more about that at amisaves
dot commisaves dot com. Diana, I've got about a minute left.
Any final thoughts you'd like to share with our listeners.
Speaker 3 (09:24):
Just that it never too soon, because sooner you start,
the easier it's going to be, and the more you're
going to have and something is better than being taught
with nothing when it comes to saving for college.
Speaker 2 (09:39):
Yeah, and the fact that you can start at twenty
five dollars makes it so simple. Increase the payments every
year and have a nice lump sum at a point
where you've got that child ready to go to college,
whether it's community college or for your university. There are
just tons of options when you check out the Michigan
Education Trust Programs set with Matt dot com. Set with
(10:02):
Mett dot com. We've been speaking with their amazing and
multi talented executive director, Diane Brewer. Thank you as always
for joining us here on iHeartRadio.
Speaker 3 (10:12):
Thank you you've.
Speaker 1 (10:14):
Been listening to iHeartRadio's West Michigan Weekend. West Michigan Weekend
is a production of Wood Radio and iHeartRadio
This is iHeartRadio's West Michigan Weekend. West Michigan Weekend is
a weekly programmed designed to inform and enlighten on a
wide range of public policy issues, as well as news
and current events. Now here's your host, Phil Tower.
Speaker 2 (00:17):
This is West Michigan Weekend from iHeartRadio. Once again, thank
you so much for tuning in. I am so glad
you have joined us. In this segment, we are celebrating
the fact that September is National College Savings Month. So
even if you have kids who are out of college,
this is important for you because you know what happens
with kids after they get out of college. They do life,
(00:40):
they do adulting, they get married, they have kids, and
then as grandparents, yes I said the g word. As grandparents,
you want to think about saving for your grandchildren's college
expenses as well. It's one of the best gifts you
can give your future grandkid to be. And on the
line with it is Diane Brewer. She is the executive
(01:02):
director of MET, the Michigan Education Trust College Savings Program.
This is an exciting thing to talk about because it
really is a life changer. Diane Brewer, first of all,
it's great to have you back on iHeartRadio. Thank you
for joining us.
Speaker 3 (01:18):
Oh, you're welcome, Thank you for having me.
Speaker 2 (01:20):
Well, we're celebrating College Savings Month. It's been officially proclaimed
as such here in the state of Michigan. This is
really important to talk about because it's one of those
things that you don't think about oftentimes, Diane, and you
hear this, I'm sure from people who said, boy, I
wish I would have started when my kid was born.
(01:40):
I wish I would have started when they were in
kindergarten er third grade. But the MET program is so powerful.
There's also the MASP program, which is Michigan's five twenty
nine programs celebrating twenty five years.
Speaker 3 (01:54):
Yeah, they came around in two thousand.
Speaker 2 (01:57):
Wow. It's really important that we talk about savings for
college because college is more expensive. It always gets more expensive.
It's kind of like everything in life. Prices go up
over time, there's inflation, there are changes, and it is
an important thing to begin preparing for.
Speaker 1 (02:15):
Diana.
Speaker 2 (02:16):
Want to shed some line in a great story that
your team shared with me about a woman from Saginaw
County who says the program, the MET program, actually changed
her life and she is a successful professional young woman.
But talk about this Christina, Christiana Malkia. She lives in
(02:36):
Saganaw County. She is a radio reporter with WSGW Radio
in Saginaw. But she's got a great MET story.
Speaker 3 (02:44):
Right she does? She does, And I had the opportunity
to meet Christina at a conference too. In just an
incredible young person.
Speaker 2 (02:53):
N So, she had a situation where her father was
left on permanent disability after car accident. Her mother was
trying to make ends meet, but because her parents had
opened a MET early on, her tuition was already covered.
She was able to go to school at Delta College
and earn a bachelor's degree later from WMU. She's talking
(03:16):
about how important that prepaid tuition was for her. So
let's do a recap, if you will, Diane, for how
the MET program works. It's a prepaid tuition program. You
can start for as little as twenty five dollars a month.
I think our listeners would be amazed to know that.
But twenty five dollars a month, and that could be
(03:36):
a gift for your grandchildren or for your child who
was just born recently, if you've got a new grandkid
in your life, this is something you want to take
note of, So talk about how the MET program works,
will you please?
Speaker 3 (03:48):
Definitely yes. Netteam around in nineteen eighty eight is when
we had our first contexts available to a Michigan residents.
And it is a five twenty nine And that's what
I need to distress the people because they think there's
only one, but there's a group and there's categories to
five twenty nine. So what MET is is a five
(04:10):
to twenty nine prepaid tuition program. And what you're actually
doing is buying credit hours at a day's rate for
use in the future. So you pay your price for
the credits today. MET the trust grows the fund to
meet the future costs of those credit hours. So it's
(04:30):
along the lines of having some insurance that you've got
a such amount of credit hours, be at one hundred
and twenty four a bachelor's degree, or maybe it's a year.
Maybe a grandparent wants to provide a year or two.
So it's not an all or nothing. But that is
the premise of prepaid tuition.
Speaker 2 (04:52):
And the thing you said, which I really want our
listeners to know about, is you're paying in today's dollars
for tuition. That was certainly be more expensive ten years
down the road from now, fifteen years down the road
from now. That's the whole point of a prepaid tuition program.
And as you said, this is part of Michigan's five
twenty nine college savings program, the MET is and it's
(05:15):
been around since nineteen eighty eight. It is important to
think about, Okay, if I pay for this today versus tomorrow,
you can start Diane for as little as twenty five
dollars to begin saving for someone. Maybe it's a grand kid.
Let's talk about that. If you've got a grandchild who's
been born, you can open a MET contract in their
(05:36):
name if you're a grandparent. Is that right?
Speaker 3 (05:39):
That's exactly right. And the tax advantages of doing that
if you're a Michigan resident, if you're paying income tax
in the state of Michigan, contributions to the five twenty
nine that you've purchased our schedule one deduction. So that's
one of the tax benefits to a five twenty nine program.
(06:00):
The other is on the federal level, is that as
earnings or as tuition goes up, these are not taxable.
There's no beIN tax in the end when they're used
for higher education, they're still tax free. In the event
that the student doesn't go to college and moneys are
(06:20):
not used for higher education at that point, than the
earnings would be taxable. But for the majority of our
students who have programs, they're using them. It's less than
half a percent that don't fully use their net benefits.
Speaker 2 (06:38):
And since it's beginning in nineteen eighty eight, the Michigan
Education Trust Program has helped thousands of people go to college.
Let's not overlook the fact that this has been a
real difference maker. It is a huge thing that you
want to look at, especially if you want to be
prepared that way. There are so many different ways you
(07:00):
can set up a plan. In fact, if for some
reason you've got a large sum of money you've been
setting aside for a grandchild, you can also buy the
whole four year program or two year program in a
lump sum. Is that correct as well?
Speaker 3 (07:17):
That's correct. Yeah, some people are still doing that.
Speaker 2 (07:21):
And there are community college programs, Diane with Mett.
Speaker 3 (07:24):
Yeah, yeah, there's three different levels of program. One is
community college, so you'd want to look at a mass
of sixty credit hours, and that pricing is based on
community college price. Then on a university level, we have
two program options and one provides cover ejects all of
(07:46):
the public universities all fifteen at the full rate. Then
there's one that's twice a bit less where it covers
the majority at full rate, but for those with higher
prices to kind of pro rate what the student has
when they actually go into college.
Speaker 2 (08:04):
So you have lots of options. We've got just about
two minutes left. I want to really stress Diane, you
and your team have put together all kinds of great
resources for people who want to start a MET savings
program for their grandchild or their own child. You've got
free webinars that are offered on a regular basis. How
(08:24):
can people learn more to learn how to get a
MET contract started for their child or grandchild?
Speaker 3 (08:32):
Definitely, you know a website is set with METS dot
com and there's information on webinars schedules. We also do
a lot of one on one appointments on a phone
or virtually and online. You can sign up for one
on one if you want some specific questions answered. Most
(08:53):
contracts now people do enroll online, but we would gladly
have a conversation and let's you'll pay performs too.
Speaker 2 (09:02):
Yeah, I'm so glad you said that. I can't recommend
met highly enough. It is a terrific program. There's also
the MASP five twenty nine program here in the state
of Michigan. You can learn more about that at amisaves
dot commisaves dot com. Diana, I've got about a minute left.
Any final thoughts you'd like to share with our listeners.
Speaker 3 (09:24):
Just that it never too soon, because sooner you start,
the easier it's going to be, and the more you're
going to have and something is better than being taught
with nothing when it comes to saving for college.
Speaker 2 (09:39):
Yeah, and the fact that you can start at twenty
five dollars makes it so simple. Increase the payments every
year and have a nice lump sum at a point
where you've got that child ready to go to college,
whether it's community college or for your university. There are
just tons of options when you check out the Michigan
Education Trust Programs set with Matt dot com. Set with
(10:02):
Mett dot com. We've been speaking with their amazing and
multi talented executive director, Diane Brewer. Thank you as always
for joining us here on iHeartRadio.
Speaker 3 (10:12):
Thank you you've.
Speaker 1 (10:14):
Been listening to iHeartRadio's West Michigan Weekend. West Michigan Weekend
is a production of Wood Radio and iHeartRadio
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.