What will happen to the Lansing SAVE account if my child does not go to college?
Lansing SAVE account funds can be used toward other kinds of postsecondary education, like community college, city colleges or technical and vocational training. If your child decides not to pursue any postsecondary education, the funds you've saved (privately invested funds) will be returned to your child when he or she turns 26. However, funds contributed to your child's account by the City of Lansing or our partners (public invested funds), and interest accrued on those funds, feature restrictions. These funds must go toward postsecondary education related expenses, and will be reinvested in the Lansing SAVE program if not used by your child for this purpose.
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MSU Federal Credit Union
savings are Federally insured to at least $250,000 by the NCUA
and backed by the full faith and credit of the United States Government.
APR = Annual Percentage Rate. APY = Annual Percentage Yield.
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