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Pre-K & Elementary School: College Planning Guide for Parents

When it comes to saving for college and preparing your child for college in elementary school, there's no such thing as "too early." You've made a smart decision by starting the process while your child is very young, and you've come to the right place to find a college planning guide for parents.

Get Started the Right Way

Successfully building a college savings account requires a solid plan, discipline, and a focus on the long term.

College Planning Tool
Use MEFA's College Planning Tool to create a personal college savings strategy for your family.
Hear From Others
Hear from other families how MEFA helped them reach their goal of a college education.
The Truth About Saving
Find out the truth about saving for college – and dispel the myths and common misconceptions.
College Saving Tips
Review useful college saving tips that can help you make the most of your resources.

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Save More, Borrow Less

The more you save in the years before college, the less you will have to borrow. Why is saving a better option? Because you pay interest on the money you borrow, but you earn interest on the money you save.

The chart shows an example that compares saving and borrowing, based on a college cost of $10,000. As you can see, the actual out-of-pocket cost is far less when you save than it is when you borrow.

Based on 10 years at an interest rate of 7%. This example is an estimate only and market conditions may change.

cost of borrowing vs saving for college

Discover Two Great Ways to Save

MEFA's U.Plan and U.Fund offer uncommon benefits to help you make the most of your college savings.

U.Plan Prepaid Tuition Program

Prepay up to 100% of your child's future college expenses at today's rates:

One of the most stable and reliable prepaid tuition programs
Can be used at a large network of colleges and universities in MA
No fees, and no state or federal taxes on earnings
Unused money returned without penalty including interest
Flexability to meet your goals and budget

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U.Fund College Investing Plan

Gain control and flexibility as you save for a child's college education:

Allows you to choose how your money is invested
Can be used at virtually any college
Easy and affordable to open
Significant tax benefits
Professionally managed by Fidelity Investments