Michigan Education Savings Program (MESP) review

MESP earns its high value score on cost alone. Its site cites ISS Market Intelligence for an average annual asset-based fee of 0.09% across all portfolios, against 0.46% for all 529 plans, and its fee table shows enrollment year options at 0.06% to 0.09% all in, made up of a 0.01% program manager fee, a 0.025% state administrative fee and the underlying fund costs. You can start with $25 in about 10 minutes, and choose from enrollment year, multi-fund, single fund or a guaranteed option. Michigan taxpayers can reduce state taxable income by up to $10,000 if married filing jointly. The plan is open to nonresidents. Two caveats come from MESP's own pages: withdrawals for K-12 tuition lead to recapture of the Michigan deduction and state tax on earnings, and Michigan has not settled how it treats a 529 to Roth IRA rollover for state tax. For pure low cost, it is hard to beat.

Who it is for

cost-focused savers and Michigan taxpayers

Price

Average annual asset-based fees of 0.09%; $25 to start.

MESP's average annual asset-based fees are 0.09% for all portfolios compared to 0.46% for all 529 plans
Quoted from the vendor pricing page on November 14, 2026.

Key features

• Average annual asset-based fees of 0.09% for all portfolios, against 0.46% for all 529 plans (ISS Market Intelligence, 2Q 2026)
• Enrollment year options charge 0.06% to 0.09% in total annual asset-based fees
• Michigan taxpayers can reduce state taxable income by up to $10,000 if married filing jointly
• Takes about 10 minutes and $25 to start
• Enrollment Year, Multi-Fund, Single Fund and Guaranteed investment options

Strengths and weaknesses

• Strength: Among the lowest published average fees in this list
• Strength: Open to savers outside Michigan; you do not need to be a resident
• Strength: Manages more than $10.3 billion across more than 341,000 accounts as of July 15, 2026
• Weakness: $25 needed to start, while NY, Fidelity and Schwab start lower
• Weakness: Michigan says the state tax treatment of a Roth IRA rollover is unclear
• Weakness: K-12 tuition withdrawals trigger recapture of the Michigan deduction

Key facts

• Average asset-based fee: 0.09%
• Minimum to start: $25
• State deduction: Up to $10,000 joint (MI taxpayers)
• Assets: More than $10.3 billion (7/15/2026)

Where it ranks

Michigan Education Savings Program (MESP) is No. 2 in our Best 529 Plans verdict.