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U.Plan logo

Prepaid Tuition Program

Protect against rising college costs by locking in a percentage of today’s tuition at 70+ colleges in MA

Parents and baby

What is the U.Plan?

The U.Plan is the Massachusetts prepaid tuition plan that allows you to pay for tomorrow’s tuition and mandatory fees at today’s rates.

Financial Peace of Mind

Your money in the U.Plan is invested in bonds, which means it’s not subject to market fluctuations.

A Breadth of Options

Over 70 public and private colleges and universities in Massachusetts participate in the U.Plan program

Flexible & Easy

If your child doesn’t attend a participating school, you’ll receive your savings back with interest and no penalty

Tax-Advantaged

All U.Plan earnings are exempt from Massachusetts and federal income tax.

SAVING FOR COLLEGE

The Power Of the U.Plan Prepaid Tuition Program

woman carrying child

How It Works

First, you’ll need to open a U.Plan account. Do so by completing these simple steps:

Designate Participants
You’ll need to create a User ID and Password and then fill in the personal information for the Owner, the person who will have control over the account, such as the child’s parent, the Beneficiary, the child who will benefit from the account savings, and the Successor Owner, the person who will take over the account if the Owner passes away.

Select Maturity Year(s)
The maturity years are the years during which the Beneficiary will attend college and you will use your U.Plan funds. You can save for one maturity year or several. You’ll need to also decide the percentage of your investment you’ll want applied to each year.

Make a Contribution
You can add to your account by check or make a transfer from your bank. You can also set up automatic contributions to occur on a regular basis. All your U.Plan savings qualify you for a MA state income tax deduction.

Finalize Your Account
As your final step, you’ll need to review your summary and disclousers, and then hit Submit.

Save All Year
You can add funds to your U.Plan account throughout the year whenever you’d like. You’ll need to save at least $300 over the course of the year to participate in the tuition lock-in. And you can save through your child’s sophomore year in high school (as your savings need 5 years to mature after you invest).

Tuition Certificate Purchase
On July 15th of each year, your contributions from the last 12 months will be used to purchase Tuition Certificates that cover a percentage of tuition and mandatory fees at participating colleges and universities in Massachusetts. You’ll lock in that percentage, which means even if the cost of tuition increases, your Tuition Certificates will still cover the same percentage.

Next Year’s Saving
Beginning each August 2nd, you can begin contributing again to your U.Plan account for your Tuition Certificates to be purchased the following July 15th.

Participating Colleges
With the U.Plan, you don’t need to choose a school ahead of time! You’ll designate your savings to a college right in your account once it’s time for your child to attend, and we’ll send those funds over to the school electronically. Over 70 undergraduate colleges and universities in Massachusetts participate in the U.Plan, meaning you have plenty of options for your child’s future education.

Out-of-Network Schools
If your child decides to attend a college out of the U.Plan network, no problem. You’ll still receive your savings back, with interest calculated at CPI, and no penalty.

Participating Schools

With over 70 participating schools, of all sizes and types, students with U.Plan savings can find a college that fits them best.

*The tuition and fee amounts listed are for the academic year 2024-2025 as reported by the institution and should only be used to help you estimate your purchase amount. The actual percentage for Tuition Certificates purchased during this enrollment period will be based on tuition and mandatory fees for the 2025-2026 academic year, which have not yet been set by the participating colleges and universities. You will receive an annual statement in the fall that confirms the percentage of tuition and fees you have locked in at the participating schools.

Refer to the U.Plan Offering Statement for the full details of the program.

Participating School 2024-2025 Tuition & Fees* A $1,500 contribution locks in this percentage: A $3,000 contribution locks in this percentage:
American International College $44,230 3.39% 6.78%
Amherst College $70,480 2.13% 4.26%
Anna Maria College $44,572 3.37% 6.73%
Assumption University $51,390 2.92% 5.84%
Babson College $57,152 2.62% 5.25%
Bay Path University $38,257 3.92% 7.84%
Benjamin Franklin Cummings Institute of Technology $20,242 7.41% 14.82%
Bentley University $61,480 2.44% 4.88%
Berklee College of Music $52,040 2.88% 5.76%
Berkshire Community College $5,712 26.26% 52.52%
Boston College $70,080 2.14% 4.28%
Boston Conservatory at Berklee $53,920 2.78% 5.56%
Boston University $68,102 2.20% 4.41%
Bridgewater State University $11,734 12.78% 25.57%
Bristol Community College $7,290 20.58% 41.15%
Bunker Hill Community College $7,710 19.46% 38.91%
Cape Cod Community College $7,500 20.00% 40.00%
Clark University $58,467 2.57% 5.13%
College of the Holy Cross $64,500 2.33% 4.65%
Curry College $47,570 3.15% 6.31%
Dean College $46,526 3.22% 6.45%
Eastern Nazarene College $29,924 5.01% 10.03%
Elms College $43,325 3.46% 6.92%
Emerson College $57,056 2.63% 5.26%
Emmanuel College $48,690 3.08% 6.16%
Endicott College $40,650 3.69% 7.38%
Fisher College $35,689 4.20% 8.41%
Fitchburg State University $11,346 13.22% 26.44%
Framingham State University $11,920 12.58% 25.17%
Gordon College $30,700 4.89% 9.77%
Greenfield Community College $5,810 25.82% 51.64%
Hampshire College $59,736 2.51% 5.02%
Hellenic College Holy Cross $22,490 6.67% 13.34%
Holyoke Community College $7,410 20.24% 40.49%
Laboure College $30,617.50 4.90% 9.80%
Lasell University $27,040 5.55% 11.09%
Lesley University $34,256 4.38% 8.76%
Massachusetts Bay Community College $7,705 19.47% 38.94%
Massachusetts College of Art and Design $15,400 9.74% 19.48%
Massachusetts College of Liberal Arts $12,186 12.31% 24.62%
Massachusetts Maritime Academy $11,420 13.13% 26.27%
Massasoit Community College $6,720 22.32% 44.64%
Merrimack College $53,962 2.78% 5.56%
Middlesex Community College $7,560 19.84% 39.68%
Montserrat College of Art $40,690 3.69% 7.37%
Mount Holyoke College $67,018 2.24% 4.48%
Mount Wachusett Community College $7,600 19.74% 39.47%
New England Conservatory of Music $60,750 2.47% 4.94%
Nichols College $42,865 3.50% 7.00%
North Shore Community College $6,790 22.09% 44.18%
Northeastern University $66,072 2.27% 4.54%
Northern Essex Community College $8,850 16.95% 33.90%
Quinsigamond Community College $7,240 20.72% 41.44%
Regis College $49,680 3.02% 6.04%
Roxbury Community College $8,240 18.20% 36.41%
Salem State University $12,338.40 12.16% 24.31%
Simmons University $46,874 3.20% 6.40%
Smith College $65,178 2.30% 4.60%
Springfield College $44,382 3.38% 6.76%
Springfield Technical Community College $7,326 20.48% 40.95%
Stonehill College $57,490 2.61% 5.22%
Suffolk University $47,550 3.15% 6.31%
University of Massachusetts Amherst $17,772 8.44% 16.88%
University of Massachusetts Boston $15,868 9.45% 18.91%
University of Massachusetts Dartmouth $15,612 9.61% 19.22%
University of Massachusetts Lowell $16,966 8.84% 17.68%
Wellesley College $67,176 2.23% 4.47%
Wentworth Institute of Technology $42,884 3.50% 7.00%
Western New England University $47,820 3.14% 6.27%
Westfield State University $12,179 12.32% 24.63%
Wheaton College $63,960 2.35% 4.69%
Worcester Polytechnic Institute $60,765 2.47% 4.94%
Worcester State University $11,786 12.73% 25.45%

UPlan FAQs

You can open an account and begin the process of saving with any amount, but the minimum to purchase a U.Plan Tuition Certificate is $300. If you have at least $300 in your account at the time of the bond purchase in mid-July, your contributions will be used to purchase Tuition Certificates and will lock in that percentage of tuition and fees at each participating Massachusetts college and university. If you do not have $300 in your account at the time of the bond purchase, then your funds will remain in your money market account and will not be used to purchase U.Plan certificates that year.

A college savings plan is any type of savings plan that allows you to save for future college expenses by setting aside money today. Massachusetts offers two college savings plan options, both with tax advantages: the U.Fund 529 College Investing Plan and the U.Plan Prepaid Tuition Program. The U.Fund provides different investment options and can be used at practically any college or university in the country. The U.Plan allows you to lock in current rates on mandatory tuition and fees at over 70 colleges and universities in Massachusetts.

Tuition Certificates are valid for six years after the maturity year. If your Tuition Certificate matures and your child has not yet started college, you can simply hold on to it and use it the following year. The certificate will retain its value from the previous year.

Since the U.Plan bonds don’t become liquid until your chosen maturity year, accessing U.Plan money early is more difficult. We will work with customers to honor their request if possible but we cannot guarantee that customers can access their U.Plan funds before they mature.

The 1099-DIV from the U.Plan will be mailed out each year by January 31st, and will also be available to view at that time within your online account. The 1099-DIV reflects your earnings on any U.Plan savings invested in a money market mutual fund. MEFA will only mail a 1099-DIV if your earnings equal or exceed $10.

If interest calculated at CPI outpaces the rise of tuition, we will cash out the Tuition Certificate to the owner. The U.Plan will always pay the highest value of the Tuition Certificate to the school or owner.

If a student does not attend a participating college or university, you have three options:

  1. You can wait and see if the student’s plans change. Certificates are valid for six years after the maturity year.
  2. You can transfer the role of Beneficiary to another student within the family.
  3. You can cash out the funds. The owner will receive the funds that were invested in the plan plus interest calculated at the Consumer Price Index (CPI). There are no federal or Massachusetts tax consequences associated with cash-outs, but if you live outside Massachusetts, please consult the laws of your state of residence.
  1. Log in to your account online.
  2. Select Redemption in the left-hand sidebar.
  3. Select the appropriate U.Plan account in the drop-down bar and indicate whether you need the funds sent to the institution or the account owner and then provide the requested information.
  4. On the next Order Review screen you’ll be given the dates of when your funds will be sent.
  5. If you have questions, you can reach a U.Plan expert by calling (888) 590-5653.
  6. You can also watch an instructional video on making a distribution from your U.Plan account here.

When you save in the U.Plan, every single dollar you contribute goes directly toward your child’s future college costs. You won’t ever pay an application, account, or management fee.

If a college joins the program at a later date, it must honor Tuition Certificates purchased since the program started in 1995. If a school drops out of the program, it must honor all Tuition Certificates purchased prior to the year it withdrew from the program.

No. Both residents and non-residents of Massachusetts may save with the U.Plan.

While Tuition Certificates must be designated by the owner for use by a specific child, they may be transferred within the owner’s family. You may request a change of ownership or beneficiary by notifying the U.Plan in writing or by downloading the Ownership Change Request Form or Beneficiary Change Request Form at mefa.org/uplan.

Tuition Certificates are structured for use by full-time students at participating institutions. Use of Tuition Certificates to pay for courses taken by part-time or continuing education matriculating students, or students in certificate programs, is dependent on the approval of the particular participating institution. Please check with your college or university to see if funds may be used in these situations.

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