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MEFA's U.Plan Locks In Future Tuition at Current Prices

The annual window of opportunity to save in the Commonwealth's prepaid tuition program has been extended to mid-July.

BOSTON [June 28, 2018]  -  The annual window of opportunity to save in the Commonwealth's prepaid tuition program has been extended to mid-July. Families now have an additional two weeks to deposit savings into the U.Plan Prepaid Tuition Program and to lock in the cost of future tuition and mandatory fees at current prices.

The U.Plan stands apart from other college savings plans by allowing savers to prepay college tuition and mandatory fees. Savings deposited into the U.Plan are guaranteed to cover the same percentage of future college costs as they would in 2018.

To achieve this benefit, account holders deposit their college savings into the U.Plan during the annual enrollment period, which has been extended to July 13th. The deposit then funds the purchase of Tuition Certificates backed by Commonwealth of Massachusetts general obligation bonds.

Upon maturity, the Tuition Certificates can then be redeemed to pay for costs at any one of over 70 participating Massachusetts public and private colleges and universities. The Tuition Certificates will cover future tuition and mandatory fees at the same percentage as when the savings were initially deposited. For example, 50 percent of tuition covered in 2018 will pay for 50 percent of tuition in the future year selected, regardless of any changes in tuition rates.

The U.Plan is highly regarded as a risk-free way to save for college and to protect against any increases in the future cost of tuition and mandatory fees. Account holders tell MEFA that they appreciate the peace of mind knowing their college savings will keep up with rising costs.

Important features of the U.Plan include:

  • Massachusetts residents qualify for a state income tax deduction for U.Plan contributions–up to $1,000 for single filers and $2,000 for married couples filing jointly.
  • When establishing a U.Plan college savings account, there is no requirement to pick a college or university from among the network of over 70 participating public and private institutions in Massachusetts.
  • If the child attends a college outside of the U.Plan network, the savings is returned to the account owner along with interest compounded annually.
  • Plan earnings are exempt from state and federal tax.
  • The U.Plan has no program, application, or enrollment fees, so every dollar saved by a family goes toward paying for college.
  • Saving in the U.Plan is permitted only during the annual enrollment period and the minimum investment is $300 per maturity year.

For more information on the U.Plan, call (800) 449-MEFA (6332) to speak with a U.Plan specialist or visit


About MEFA

MEFA is a not-for-profit state authority, not reliant on state or federal appropriations, established under Massachusetts General Laws, Chapter 15C. MEFA's mission, since its founding in 1982, has been to help Massachusetts 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 Massachusetts students and families. Visit to learn more or follow MEFA on Twitter @mefatweets and on Facebook at mefaMA.

Lisa Rooney
Public Relations Manager
(617) 224-4838

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