Michigan Treasury Announces Prepaid College Tuition Program Reopens Enrollment Dec. 1

The Michigan Department of Treasury (DOT) Nov. 15 announced that the state’s prepaid college tuition program will reopen enrollment Dec. 1, allowing taxpayers who buy a contract by the end of the year to qualify for a deduction on their individual income tax return. The DOT provided: 1) the program’s contract purchase prices will remain unchanged until May 1, 2020; 2) prices for limited benefit contracts increase 3 percent and prices for community college contracts increase 5 percent from May 1, 2020; 3) the cost of full-benefit contracts is unchanged; and 4) the pricing structure remains effective through Sept. 30, ...