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State launches new college savings mobile app

Businesswoman using laptop and cell phone in office
Posted at 1:25 PM, Jun 23, 2021
and last updated 2021-06-23 13:25:29-04

LANSING, Mich. — The Michigan Department of Treasury announced on Wednesday the launch of READY2SAVE 529, a new education savings mobile app available to Michigan Education Savings Program account owners.

The app provides a convenient way to access information, track progress and make contributions, according to a news release.

“We are excited to be one of the first states to offer this new tool that makes it easier for families to save for their children’s future,” said Diane Brewer, MESP administrator. “As higher education costs continue to rise, we are always looking for new and innovative ways to help Michiganders plan, monitor and adjust their saving strategies to meet their goals. READY2SAVE 529 delivers a simple yet powerful solution to do that.”

READY2SAVE 529 allows users to view account balances and investment allocations, make one-time or reoccurring contributions and see how their savings compare with peers.

Future launches of the app will add new features, like allowing family and friends to make gift contributions.

It’s available to download in the Apple and Google Play app stores and can be installed on any device.