Most parents can't accumulate that capital when it' s needed. It has to be a savings process. Michigan would join most other states in offering college education savings accounts with some sort of tax break. When this gets on line, I'm going to use it to save for my own kids. Al and Denise Pelky of Brighton know the importance of saving early for college.
People also can pay monthly fees.
The current trust is designed for Michigan public universities. Most of the states that have adopted college-payment plans in the past few years have opted for the more flexible savings accounts. State Sen. Alma Wheeler Smith, D-Salem Township, said she supports Rogers' plan, but thinks a plan she has offered is better.