MEFA’s U.Fund, the Massachusetts 529 college investing plan, combines significant tax advantages and age-based savings strategies managed professionally by MEFA’s partner, Fidelity Investments. You can save for higher education expenses at colleges and universities across the country, with flexible and affordable savings options.
It’s simple.
Leave the investments up to us by selecting a savings portfolio based on your child’s age. You can also tailor your strategy based on your risk tolerance, or customize your U.Fund account by choosing your own portfolios.
It’s flexible.
Use the money in your U.Fund account at any accredited college or university in the United States and some eligible foreign institutions. Your savings can be applied to a wide range of qualified education expenses, not just tuition and fees. If one child doesn’t use the money, you can change the beneficiary to another eligible family member of the original beneficiary.
It’s affordable.
There’s no annual account fee, no income restrictions, and you can start saving with as little as $15 a month. Contributions can be made automatically from your bank account.
It’s tax-advantaged.
You don’t pay taxes on any earnings in your U.Fund account as it grows. When you withdraw money to pay for qualified higher education expenses – like tuition, fees, room and board, books, and more – you don’t pay federal or Massachusetts state income tax.
Open a U.Fund account with only $50. If you set up automatic monthly payments, you can contribute as little as $15 a month with no initial investment.
Ready to get started?
Visit Fidelity Investments to request a U.Fund enrollment kit and start saving today. If you have questions, view Fidelity's FAQ's.
