LANSING, Mich., Sept. 6, 2011 /PRNewswire/ -- Michigan's 529 plans are celebrating National College Savings Month by announcing the twelve winners selected in the "Destination College Savings Sweepstakes", sponsored by the Library of Michigan Foundation, the Michigan Education Savings Program (MESP) and the Michigan Education Trust (MET). The winning parents will be awarded a $1,500 cash prize that could be invested toward their child's future college education and $1,000 for their library.
The winners of the Destination College Savings Sweepstakes are:
- Diane Festian for Amber and Plymouth Public Library
- Carissa Gaden for Charlotte and Ferndale Public Library
- Bill Bean for Brandon and Wixom Public Library
- Kathryn White for Alexis and Peter White Public Library
- Laura Cattermole for Victoria and Rochester Hills Public Library
- Steve Drummond for Abigail and S. Rockwood Public Library
- Heather Pease for Zoe and St. Charles Public Library
- Carrie Phelps for Abbie and Clinton-Macomb Public Library
- Marie Szymanski for Drew and Oxford Public Library
- Jan Damsteegt for Jason and Kent District Library - Gaines Township Branch
- Lisa Post for Abigail and Capital Area District Library
- Lisa Devereaux for Jadah and Ionia Community Library
The Destination College Savings Sweepstakes provided parents with children 13 years or younger who are participating in this year's summer reading program a chance to enter to win at their local library. The 2011 Summer Reading Program is offered through Michigan's local libraries to encourage children to continue to read through out the summer. The program has over 60,000 children participating every year.
"This is the fourth year that we have offered a college savings sweepstakes in partnership with our Michigan libraries," said Renee Hill, program manager of MESP. "We hope the prize money and the information distributed on saving for college will help Michigan parents get a head start on saving for their child's future college education".
MESP and MET are Michigan's official Section 529 plans. Both MET and MESP offer families flexible features, a potential Michigan income tax deduction, and use at any eligible college, university or trade school nationally. To learn more about MESP, visit www.misaves.com and for MET, visit www.setwithmet.com
To learn more about the Sweepstakes, the Official Rules and a list of winners, please visit www.misaves.com/library.
The Michigan Education Trust (MET) is administered and managed by the Michigan Department of Treasury. The Michigan Education Savings Program (MESP) is administered by the Michigan Department of Treasury and managed by TIAA-CREF Tuition Financing, Inc.
Consider the investment objectives, risks, charges and expenses before investing in the Michigan Education Savings Program. Please visit www.misaves.com for a Disclosure Booklet containing this and other information. Read it carefully. Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss.
Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.
The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non-qualified withdrawals are subject to income taxes and the additional 10% federal excise tax.
TIAA-CREF Tuition Financing, Inc., MESP Program Manager C735
SOURCE Michigan Education Savings Program