The MEFA Gift of College Card provides friends and family members a tangible way to contribute toward a child’s college savings or student loan account to commemorate a birthday, graduation, holiday, or any other special event. The gift card can be redeemed by the recipient into any college savings or ABLE account, or used to pay down a student loan balance.
How to Purchase
The gift card can be found at Stop & Shop, Cumberland Farms, and CVS stores in Massachusetts. E-gift cards can be purchased online at mefa.org/giftcard. To purchase online, select an e-gift card image and fill out all applicable fields, including the name and email address for the recipient of the gift. Include a message and your preferred delivery date, and then determine your e-gift card purchase amount, which can range from $25 to $200.
The gift recipient will receive an email with the MEFA Gift of College Card and instructions for how to redeem their gift. The steps to redeem the gifted funds are also outlined below.
How to Redeem a MEFA Gift of College Card
The MEFA Gift of College Card can be redeemed at GiftofCollege.com. The gifted funds can be deposited into an individual’s college savings account, like a U.Fund or U.Plan account, student loan account, or ABLE account, such as an Attainable® account. If you received a MEFA Gift of College Card but don’t have one of these accounts, simply visit mefa.org/ufund to open a U.Fund account or mefa.org/uplan to open a U.Plan account. Then follow the instructions below.
- Go to GiftofCollege.com/Register and create a profile.
- Within your profile select Manage Profile, and then Connect Your 529 or ABLE Account or Connect Your Student Loan.
- Select your savings plan or student loan servicer, such as the Massachusetts U.Fund College Investing Plan or Massachusetts U.Plan Prepaid Tuition Program or American Education Services from the drop-down menu.
- Enter the name of the savings plan or student loan account owner, account number, and name of the beneficiary (student) or borrower.
- 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 and four-digit pin. Click Submit.
- Your gift card funds will be sent to your selected savings or student loan 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, customer service for Gift of College, the company that manages MEFA Gift of College Cards, 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.
What information do I need to set up a profile and to redeem this e-gift card?
- For college savings plans: college savings plan name, account owner’s name, beneficiary’s name, account number, your contact information
- For student loans: lender’s name, borrower’s name, account number, your contact information
Who can help me open a MEFA U.Fund account or MEFA U.Plan account?
U.Fund account specialists can be reached at 800-544-2776 and U.Plan account specialists can be reached at 888-590-5653.
Do MEFA Gift of College Cards expire?
No. There’s no expiration date on MEFA Gift of College Cards.
Is there a fee for the MEFA Gift of College Card?
The purchaser of the gift card pays a $6.95 fee at checkout at CVS stores. At Stop & Shop and Cumberland Farms, the fee for the gift card activation is $5.95. There are also fees associated with the e-gift card option, which can be found here. The gift card recipient receives the full face value of the card and pays no additional fees.
Does a MEFA Gift of College Card qualify for the Massachusetts college savings income tax credit?
An individual who redeems a MEFA 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 MEFA 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.
What is the Gift of Independence Card?
Similar to the Gift of College Card, the MEFA Gift of Independence Card provides a way for friends and family members to celebrate and support an individual with an ABLE account. Learn more about the Gift of Independence Card here.
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
