The U.Fund Gift of College Card, available at CVS stores in Massachusetts, provide friends and family members a tangible way to contribute toward a child’s college savings account to commemorate a birthday, graduation, holiday, or any other special event, or to simply give the gift of future education.
How to Redeem a U.Fund Gift of College Card
If you don’t yet have a MEFA U.Fund 529 account
You can easily set up a U.Fund 529 account. You’ll be brought to the webpage of Fidelity Investments, the U.Fund’s program manager. Return to this Give the Gift of College page once you’ve opened your U.Fund account. Please note that U.Fund account owners must be at least 18 years old.
If you already have a MEFA U.Fund 529 account
- Go to GiftofCollege.com/Register and create a profile.
- Within your profile select Account Manager, then Savings Plans, and then Connect Your 529 or ABLE Account.
- Select Massachusetts U.Fund College Investing Plan from the drop-down menu.
- Enter the name of the U.Fund account owner, account number, and name of the beneficiary (student)
- Select the My Profile tab. In the My Plan section, select the beneficiary’s name and then click Redeem Gift Card. In the Gift Method drop-down menu select Gift of College Gift Card and enter in the gift card number. Click Submit.
- Your gift card funds will be sent to your MEFA U.Fund 529 account within 14 business days.
Frequently Asked Questions
I need help redeeming my gift card. Who can I contact?
If you have questions about your gift card redemption, Gift of College customer service is available Monday-Friday 9:00 a.m.-7:00 p.m. (ET) and is reachable via email at [email protected], via phone at 877-244-6630, and via web form at GiftofCollege.com/Contact-Us. You can also find additional FAQs at GiftofCollege.com/Help/.
Who can help me open a MEFA U.Fund account?
U.Fund account specialists can be reached at 800-544-2776.
Do Gift of College cards expire?
No. There’s no expiration date on Gift of College gift cards.
Is there a fee for the MEFA U.Fund Gift of College Card?
The purchaser of the gift card pays a $6.95 fee at checkout. The gift card recipient receives the full face value of the card and pays no additional fees.
Does a U.Fund Gift of College Card qualify for the Massachusetts college savings income tax credit?
An individual who redeems a U.Fund Gift of College Card into a U.Fund or U.Plan account may be eligible for the Massachusetts college savings state income tax deduction if otherwise eligible based on the conditions of the tax deduction. The individual who redeems the card is responsible for the maintenance of any necessary records. An individual who purchases a U.Fund Gift of College Card is not eligible for the Massachusetts college savings state income tax deduction because the funds are not directly deposited into a college savings account.
Can I deposit a U.Fund Gift of College Card into a U.Plan Prepaid Tuition Program account, an Attainable Savings Plan account, or a MEFA Loan?
Yes, you may redeem your gift card for any of the programs listed on the Gift of College website, including the U.Fund 529 College Investing Plan, the U.Plan Prepaid Tuition Program, and the Attainable Savings Plan. You can also redeem your card toward a MEFA Loan balance.
Where can I buy a U.Fund Gift of College Card?
U.Fund Gift of College Cards can be purchased at CVS stores in Massachusetts. Find a CVS store near you. They can also be purchased online at GiftofCollege.com.
Need Help?
Contact Gift of College Customer Service
Monday-Friday, 9:00 a.m.-7:00 p.m. (ET)
Email: [email protected]
Phone: 877-244-6630
Web form: GiftofCollege.com/Contact-Us
