Get tax advantages when you save for college.

Earnings from your MEFA U.Fund account grow federal and state tax-free. If you use the funds for eligible expenses such as tuition, fees, room and board, books, and equipment, no taxes will be due on withdrawal either.

You may also save up to $2,000 per year in a Coverdell Education Savings Account (Education IRA) with tax-free earnings on the account.

PLEASE NOTE: You may not use both tax-free education savings and an education tax credit in the same year. In any given tax year you may either use savings from an Education IRA or you may benefit from the HOPE Scholarship or Lifetime Learning Credit.