Massachusetts 529 Plans
Massachusetts offers two 529 college savings plans, a direct-sold plan called The U.Fund College Investing Plan
and a pre-paid tuition plan called The U.Plan Prepaid Tuition Program.
U.Fund College Investing Plan
MEFA's U.Fund College Investing Plan is a traditional 529 plan that allows you to invest money today and reap
tax benefits when you withdraw it to pay for qualified education expenses.
Type: Direct – this Massachusetts 529 plan can be purchased directly through the
Fund Family: Fidelity Investments
Minimums: To get started you can deposit $50 unless you choose to use the automatic
monthly plan. With this option, you can open an account with as little as $15. Minimum subsequent contributions are
$25 and $15 with the automatic monthly plan.
Maximum Contributions: Currently, the combined account maximum is $350,000 for
your Massachusetts 529 plan. Of course, your total amount in the plan can be higher as your investments
group. 529 plans typically increase the contribution limit over time, so you may be able to contribute
Tax Benefits: In and out-of-state participants get the federal tax benefits.
Other Benefits: Through your U.Fund College Investing Plan, you have the option to
partake in a reward program that offers 1.5% rewards points. Cardholders can earn points that convert into account
Residency: U.Fund College Investing Plan is open to all United States residents, not just
those in Massachusetts.
You can learn more about this Massachusetts 529 plan at the official website http://personal.fidelity.com/planning/college/content/landing_ma.shtml.cvsr.
The U.Plan Prepaid Tuition Program
Massachusetts also offers a pre-paid tuition plan that lets you lock in today's rates for college.
It can be used at any of the 80 participating Massachusetts colleges and universities. However, private
college expenses will be prorated and may not be fully covered.
For more information about The U.Plan Prepaid Tuition Program visit the official website http://www.mefa.org/saveForCollege/UPlanPrepaidTuitionProgram.aspx?WT.mc_id=uplan.