5 reasons why everyone loves the U.Plan
Do you know about the U.Plan, Massachusetts' Prepaid Tuition Program? The U.Plan provides families a powerful and unique way to set aside money for college, and offers so much more than a regular savings account. Read on to learn five of the U.Plan's great benefits.
- Your savings grows with the cost of college.
Unlike other college savings programs, your U.Plan investment grows not based on market fluctuation or your own investment skills, but with the rise of college costs. Your initial contribution locks in a percentage of college tuition and mandatory fees, rather than an amount. As college costs increase, your guaranteed percentage secures a growing account of savings, ready for you when the college bill arrives.
- Over 70 different Massachusetts colleges and universities participate in the U.Plan.
That list includes rural, urban, and suburban schools, both public and private, of all sizes and types, with thousands of different majors, academic programs, and extracurricular opportunities.
- If your child attends college elsewhere, you receive your U.Plan savings back with interest and no penalty.
The U.Plan is a win-win college savings vehicle. If your child attends one of the participating U.Plan schools, you'll gain from the U.Plan's unique structure by locking in today's college rates. But if your child attends a school outside of the U.Plan network, you'll still benefit by receiving back your initial savings contribution, with interest and no penalty, at the time your child goes to college, just when you need it the most.
- You won't incur a single fee.
That's correct. 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.
- Your earnings will be tax free.
As your U.Plan savings account grows, you won't have to worry about paying taxes on the money you earn. All U.Plan earnings are exempt from Massachusetts and federal income tax.
Act now to take advantage of this powerful college savings opportunity. Simply create an account online and start contributing. Prepare for future college costs today. Save in the U.Plan.