You can use the funds from your U.Plan Prepaid Tuition Program account to pay for tuition and mandatory fees at any one of the U.Plan’s participating colleges and universities in Massachusetts. Or you can cash out the funds to use elsewhere. This video walks you through the steps of how to access your U.Plan savings when it comes time to pay the college bill.
Here’s how to use the MEFA website to send a U Plan payment to your student’s college or cash out to owner. Visit MEFA. org and go to the U Plan page. Click log in. Input your username and password to access your account. You’ll be taken to your account page where you can view your matured certificates, that is the ones that are available to use.
Click on the Redemption tab on the left hand side of the page. First, tell us if you want to send your funds to a participating college for a percentage of tuition, have what you put in plus the interest sent to the owner, or a combination of both. If you have money going to a college, select that college from the drop down menu.
Now tell us which academic year this payment is for. Is it for the current year or the upcoming academic year? Now tell us how much to send. All of the available funds up to the full yearly cost of tuition and mandatory fees, a specific percentage, or a specific dollar amount. If you want to cash out and get what you put in plus the interest, you can also choose the entire amount or a specific dollar amount.
And if you’re sending some to a college and cashing out a remaining amount, you would go through both menus. After you’ve completed this step, click Next. You’ll see a summary of your order. Review and if it’s correct, hit place order. You can print a confirmation of your order, process another payment, or simply log off.
Remember you can also request a payment over the phone at 888 590 5653.
