Michigan Education Savings Program (MESP)

The Michigan Education Savings Program (MESP) is Michigan's direct-sold 529 college savings plan, established in 2000 and administered by the Michigan Department of Treasury, with TIAA serving as plan manager since inception. Michigan residents can deduct up to $5,000 ($10,000 joint) annually from state income tax for contributions. The plan offers tax-deferred growth, tax-free qualified withdrawals, an enrollment-year option, multi- and single-fund options, and a principal-protection option, with accounts open for as little as $25 and no sales charges or maintenance fees. As of mid-2026 it held over $10.3B in assets across 341,000+ accounts. Commonly offered by employers as a voluntary financial-wellness/education-savings benefit.