Update 11/22/23: Deal is back:
- Set up monthly reoccurring electronic deposits of $50 or more until 6/30/24
- AND
- Initial Deposit $500 or more = $50 bonus OR
- Initial Deposit $1000 or more = $100 bonus
Update 9/6/23: Deal is back this time $100 bonus when you deposit $1,000. Hat tip to abc
The Offer
- Michigan Education Savings Program is offering a bonus of $50 when you open a new account and contribute $500 or contribute $500 to an existing account
The Fine Print
Our Verdict
We posted a similar deal for ScholarShare, but that was deposit $1,000 and get $100. I have no idea what the best plans are, especially when it comes to tax so make sure to do your own research or consult a professional.
View Comments (96)
Anyone receive this bonus yet? Said it would be deposited by June 30th, but I haven’t received anything.
New offer for National 529 day, terms seem similar to prior offer but requires $100 in monthly deposits now (was $50) plus $1000 initial for the $100 @2
https://www.misaves.com/program/529-day-2024?tc_mcid=em_529day_learn_ao_na_mi
5/22/24-5/31/24
Bonus posted on 02/08 for contributions made in September. Just now received the email notification.
Bonus was posted sometime yesterday 02/08/24 in all 10 accounts, easy $1k!
Just curious how you got to 10? Could you just open 10 of these accounts and get this for all 10? I just did one for each of my kids.
@guest_1795595
For most (but not all) of these 529 promotions, their T&C state that 1 bonus for each unique owner/beneficiary combination. So, a family with 3 kids can easily get 10 bonuses
Dad owner/Dad beneficiary
Dad owner/Mom beneficiary
Dad owner/kid 1 beneficiary
Dad owner/kid 2 beneficiary
Dad owner/kid 3 beneficiary
Mom owner/Mom beneficiary
Mom owner/Dad beneficiary
Mom owner/kid 1 beneficiary
Mom owner/kid 2 beneficiary
Mom owner/kid 3 beneficiary
later change beneficiary whenever and whoever you want to.
Same for CA529 and a bunch of others too, make sure to read their T&C.
Many programs usually run these promos in May (5/29)
If only you could churn it the next year. But no, once you closed the account, you can't open it online again with the bonus, you can only call them to reopen it over the phone, and no bonus for that.
@guest_1795595 Is it easy to consolidate the accounts?
Thanks!
same. bonus deposited!
Same, email subject "Account Confirmation" from Michigan Education Savings Program <clientservices@michigan-529.com>.
Finally received the bonus today (2/9), coded as a "Contribution" on 2/8. I'm surprised they coded it as a contribution, since most bank/IRA bonuses code it as "interest income."
I received my bonus on 1/22.
Contribution - Promotion
Principal Plus Interest Option
Contribution Year: 2024
2/6 and bonus did not post . Do you know if CFPB has any jurisdiction here?
Check your account, mine were posted last night.
Anyone received $100 promo yet? Opened account 09/06/2023 and funded $1000.00. I believe this was supposed to be paid out by today 01/31.
Just called. "Uh...ya...promotion...umm...hold on.....(20 minutes later). uh...ya...promotion...back office....need to call you back after a few days. Thanks for calling!" Not a good sign lol
Followed up on this again today, they said they received information from their back office and the bonus has been delayed due to "funding" whatever that means. Will be posted within the next week.
I was just told the same thing. "The bonuses will be deposited." No indication of when.
thanks guys for sharing. nothing posted yet
Mine posted, got an email informing me it was there. Well, that a transaction happened anyway which was the bonus.
Nothing for me either.
For anyone who wants a copy of the T&Cs for their reference, they can be downloaded here: https://www.misaves.com/media/syihhjxn/2023-mi-csm-terms-and-conditions.pdf
FYI, my bonus was paid out yesterday.
haha following, I might give them a call in a week. I’m not very optimistic either.
Same here. I have not received yet despite terms saying it would be paid by yesterday (1/31)
Mine finally posted today (2/9)
Mine finally posted today (2/9)
Not on my end. Still waiting.
Have anyone received bonus from the Sep 2023 promotion?
I funded accounts on Sept 8, 2023 with $1k each and have not received bonus as of Jan 31, 2024.
The link is no longer working.