The Michigan Education Trust board is considering issuance of the state's first college saver bonds as part of a possible revamping of the state's pre-paid college tuition program.

According to Sabrina Keeley, executive director of the trust, the board is considering issuing the bonds as it examines the future of the pre-paid tuition program. Other options include the creation of college savings accounts; modifying the existing program; or leaving the program as it is. She said the board may make a decision at its Dec. 4 meeting.

If the bond option is chosen, the bonds may be included in an environmental GO issue the state may sell in the next three or four months, said Nick Khouri, the state's chief deputy treasurer.

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