Michigan 529 Plan Calculator

2026

Michigan 529 plans in 2026: deduction of up to $5,000 ($10,000 on a joint return), per return; only the MI plan qualifies. Project your college savings growth.

By Konstantin Iakovlev · Updated October 19, 2026 · Methodology

years
years
$
$
%
$
years

Total College Cost

$176,766.87

With 4% inflation

Projected Savings

$58,861.83

Funding

33%

Funding Gap

$117,905.04

Monthly Needed to Fully Fund

$750.77

529 Plan Projection

Years Until College13 years
Total College Cost (with inflation)$176,766.87
Current Balance$0.00
Total Contributions$39,000.00
Investment Growth+ $19,861.83
Projected Savings at College$58,861.83
Funding Gap$117,905.04
Monthly Contribution Needed$750.77

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

Michigan 529 State Tax Benefit (2026)

Deduction of up to $5,000 ($10,000 on a joint return), per return. Only contributions to Michigan Education Savings Program (MESP, direct-sold); MI 529 Advisor Plan; Michigan Education Trust (prepaid) count; money put into another state’s plan earns no Michigan deduction or credit.

You deduct contributions minus qualified withdrawals and rollovers made in the same year. The $5,000 single / $10,000 joint limit is per return and covers MESP and MI 529 Advisor accounts combined; Michigan Education Trust prepaid contracts sit outside it and are deductible in full. Nonqualified withdrawals are added back.

Michigan Tax & Education Facts (2026)

State Income Tax 4.25% (flat)
529 State Tax Benefit Deduction of up to $5,000 ($10,000 on a joint return), per return
Plans That Qualify Only Michigan Education Savings Program (MESP, direct-sold); MI 529 Advisor Plan; Michigan Education Trust (prepaid)
State Plan Michigan Education Savings Program (MESP, direct-sold); MI 529 Advisor Plan; Michigan Education Trust (prepaid)
State Sales Tax 6.00%
Avg. Property Tax Rate 1.13%

Official Sources:

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