U.FUND College Investing Plan

The Massachusetts 529 plan, MEFA's U.Fund College Investing Plan, is a tax-advantaged investment plan, professionally managed by Fidelity, to help reach your child's educational dreams.



Tax advantages


The Massachusetts 529 plan offers federal tax benefits and in-state tax deductions as you save for a child's education.

Flexible use of funds


Use the funds for a wide range of college expenses at accredited schools nationwide—plus tuition expenses for K–12th grade.

Many investment choices


Choose either an Age-Based Strategy or a Custom Strategy based on your specific investment goals.

Why invest in a 529 college savings plan with Fidelity?

College gifting service


Friends and family can send gifts directly to your 529 with our free, online college gifting service. Gifters don't need a Fidelity account.

Fidelity Investments 529 College Rewards® Visa Signature® Card


Help to grow your college savings account with unlimited 2% cash back on every eligible net purchase.1

What is a 529 plan?


This tax-advantaged education savings account could help you hit your college savings goals. There's no annual account fee and no income restrictions.


Tax advantages

Earnings

Any earnings grow federal and Massachusetts income tax-deferred.

Contributions

U.Fund plan account owners are eligible to claim a Massachusetts state income tax deduction for contributions to the U.Fund plan made in the applicable tax year. Single persons may claim up to a $1,000 deduction, and married persons filing jointly may claim up to a $2,000 state income tax deduction.

Withdrawals

Qualified withdrawals are free from both federal and Massachusetts income taxes.


Account details

Account maximum

$400,000 per beneficiary2

Investment expenses

Fees vary, depending on your investment strategy:
0.50%–0.99% (Fidelity Funds)
0.13%–0.14% (Fidelity Index Funds)
0.43%–0.65% (Fidelity Blend)
0.05%–0.50% (Bank Deposit Portfolio)

Plan performance

View information on the funds' short-term performance, or average annual total returns by month or by quarter.

Download the annual report (PDF)

Plan application & fact kit

Download the application and supporting documents.


About MEFA

Who is MEFA?

MEFA is a state administrator working with Fidelity Investments to offer the U.Fund. A not-for-profit public entity started in 1982 by the Massachusetts Legislature, MEFA's mission since its founding has been to help students and families access and afford higher education and reach financial goals through education programs, tax-advantaged savings plans, low-cost loans, and expert guidance. All of MEFA's work aligns with the ever-present goal to support the independence, growth, and success of students and families. For more information on MEFA, visit mefa.org/about.

MEFA Education Loans

MEFA offers low-cost fixed interest rate loans to help families pay for college, as well as an education refinancing loan designed to lower the monthly payment and interest rate for individuals repaying education loans.

College planning guidance

MEFA's free guidance is available to families in every phase of college planning and includes emails, blog posts, videos, seminars, webinars, calculators, and timelines. Visit mefa.org to access all resources.

Coming Soon - BabySteps

A program designed to encourage saving for college, BabySteps provides a $50 seed deposit into a U.Fund account for any child who is a MA resident and is born or adopted on or after January 1, 2020 (within one year of the birth or adoption).

529-college_gifting

Consider these tips from Fidelity customers who found easy ways to ask their family and friends to consider gifting to their 529 on gift-giving occasions.

Learn more

Learn about college planning

Access a library of courses, articles, and videos to learn more about planning and saving for college.

Get started with college savings

Understand what it's like to have an account, from choosing a plan to withdrawing funds.

Are you on track?

See if you're on track to meet your college savings goals.

Hablas Espanol

Ahorrar para la universidad (PDF)
Un folleto en Español con informacion sobre productos y soluciones de ahorrar para el futuro de su hijo.

Abra una Cuenta U.Fund
Descargue una Solicitud de Cuenta y un Paquete de Datos del Plan de Inversion para la Universidad de U.Fund.

Get in touch

Contact us to get help and answers.

Questions?

800-544-2776