Chelsea State Bank is hosting a complimentary event where community members can gather to learn more about the Michigan Education Trust Plan and the Michigan Education Savings Plan. The purpose of this event is to help families decide if either is a good fit for their children, grandchildren, nieces or nephews.
“Data shows us that ‘American [1]college students and their families paid 48% of college costs out-of-pocket, equivalent to $13,760 per student for the 2023-2024 academic year,’” said Joanne Rau, President and CEO, Chelsea State Bank. “Furthermore, data supports that ‘only 35% of families are using college savings programs.’” “Learning about the different college savings plans and identifying which plan is best for your family should not be a master puzzle. We strongly feel that this is a conversation Chelsea State Bank can help facilitate, connecting families with available options, allowing them to choose which plan works best for their family’s financial goals.”
A representative from the Michigan Department of Treasury will be on site, facilitating the conversation by providing an informal presentation of their two plans.
The event will take place on Tuesday, October 14, 2025, from 6:30 – 7:30 pm at the historic Chelsea District Library, 221 S Main St, Chelsea, MI 48118.
Chelsea District Library Director Lori Coryell shares, “We are incredibly grateful to Chelsea State Bank for their commitment to local families and helping educate our community about options for saving for college. Higher education is expensive, and reducing debt helps our next generation on a pathway to success.”
Those interested in attending this complimentary event should register here: https://chelseadistrictlibrary.libnet.info/event/13673722
About Chelsea State Bank
Chelsea State Bank is a full-service financial institution with offices in Chelsea, Dexter, and Jackson. The Bank was formed over 125 years ago by local business leaders to provide timely financial solutions to individuals, families, and businesses in the community. This tradition of community service continues today. For more information, please call 734.475.1355 or visit www.chelseastate.bank.
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[1] Source: https://educationdata.org/college-savings-statistics
