General InformationDownload PDF Report

U.Fund College Investing Plan logo

U.Fund College Investing Plan

Massachusetts' U.Fund College Investing Plan, a Fidelity-managed 529 plan follows the same approach as other Fidelity plans in Arizona, Delaware and New Hampshire. It features three age-based options; one using Fidelity mutual funds; one using Fidelity index mutual funds; and a third multi-firm option with portfolios that invest in funds offered by several different companies. The plans also offer 11 static options, and one option that invests in an interest-bearing deposit account.

Our Ratingx

4 of 5

Fee Scorex

4 of 5


4 of 5
enroll now
44,351 clicked to enroll

  • Program typeSavings
  • Inception1999
  • State agency
    Massachusetts Educational Financing Authority (MEFA)
  • Tax deduction
  • Program Manager
    Fidelity Investments
  • Program distributor
    Fidelity Brokerage Services, LLC
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for MA residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

Our overall rating for non-residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.'s 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.

3.78of 5

Each plan's performance score is developed directly from's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.


State residency requirements:


Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and trusts.

Significant time or age restrictions imposed by the program:


Did you know?

  • MA residents can claim a tax deduction for contributions to a MA 529 plan.

    Contributions are deductible in computing state taxable income

  • 529 plan contributions grow tax-free.

    Withdrawals are tax-free when used to pay for qualified higher education expenses.

  • You can contribute as much as you want, as often as you want.

    The key is to get started. Enroll today by completing a quick form online.

U.Fund College Investing Plan logo
enroll now
44,351 clicked to enroll


Maximum contributions:

Accepts contributions until all account balances in Massachusetts' 529 plan for the same beneficiary reach $400,000.

Minimum contributions:

There is no minimum to open an account. With the automatic investment plan, the minimum contribution level is $15 per month or $45 per quarter.

Investment Options

Age-based investment options:

Choose between 3 age-based options, one invested in Fidelity mutual funds, another invested in Fidelity index mutual funds, and a third multi-firm option with portfolios that invest in funds offered by several different companies. Contributions are placed into the portfolio corresponding to the beneficiary's age. The portfolios automatically shift to a more conservative investment allocation over time.View more age-based investment options

Static investment options:

Select among 6 multi-fund portfolios, 5 individual-fund portfolios and a Bank Deposit Portfolio.View more static investment options

Underlying investments:

Fidelity Investments, AllianceBernstein, Acadian, AQR, BlackRock, BrandywineGLOBAL, Causeway, Credit Suisse, Hotchkiss and Wiley, JPMorgan, Loomis Sayles, LSV, MainStay, MetWest, MFS, PGIM, PIMCO, T. Rowe Price, Western Asset, and William Blair. For the Bank Deposit Portfolio only, a deposit in a FDIC-insured interest-bearing account.View a full list of this plan's investment options

Underlying fund allocations:


Portfolio Fees & Performance Lookup


Fees & Expenses

Enrollment or application fee:


Account maintenance fee:


Program management fees:

0.09% for the index fund options (includes 0.045% state fee); 0.20% for the Fidelity fund options (includes 0.10% state fee); 0.35% for the multi-firm fund options (includes 0.10% state fee). For the Bank Deposit Portfolio, there is a 0.10% Program Management Fee (includes 0.05% state fee) and is based on the Federal Funds Target Rate.

Expenses of the underlying investments:

Ranges from 0.02% to 0.11% annualized in the Fidelity index fund portfolios, from 0.33% to 0.79% annualized in the Fidelity funds portfolios, and 0.54 to 0.78% in the multi-firm portfolios. For the Bank Deposit Portfolio, there is no underlying fund expense. There is, however, a Bank Administration Fee, which ranges from 0.00%-0.40% and is based on the Federal Funds Target Rate.

Total asset-based expense ratio:

0.11% - 1.13%

Taxes and other Benefits

  • Tax deduction for single filers$1,000/yr
  • Tax deduction for joint filers$2,000/yr


Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.

Program match on contributions:

SeedMA is a pilot program designed by the Office of the Treasurer and Receiver General of Massachusetts and MEFA to help families in eligible communities invest in their child's post-high school education and training. The pilot program commenced in the Fall of 2016 and currently provides kindergarten students in the Worcester and Monson Public School Systems with an initial $50 deposit to establish a Massachusetts 529 college savings account (also known as the U.Fund College Investing Plan).

SeedMA Baby is an expansion of the SeedMA initiative started in 2016. Beginning in January 2020, every baby born to or adopted by a Massachusetts resident will be eligible for a free $50 seed deposit into a U.Fund 529 college savings account.

State tax deduction or credit for contributions:

Effective January 1, 2017 through the 2021 tax year, contributions to Massachusetts 529 plans of up to $1,000 per year by an individual, and up to $2,000 per year by a married couple filing jointly, are deductible in computing Massachusetts taxable income.

State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Massachusetts taxable income to the extent of prior Massachusetts tax deductions.

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, as well as up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school.

State tax treatment of qualified distributions:

Qualified distributions from Massachusetts and non-Massachusetts 529 plans are exempt.

State tax treatment of rollovers:

Massachusetts follows federal tax-free treatment.

Does the sponsoring state exclude the value of an account for state financial aid purposes?


Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?


Does the program have a formal agreement with a rewards program or outside scholarship program?

Yes, Fidelity Rewards Visa Signature Card rebates 2% of purchases.

The Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Upromise Helps Families Save for College

Upromise Helps Families Save for College

Statutory protection of an account from creditors:


Did you know?

  • Residents are not limited to investing in their own state's 529 plan.

    Another state may offer a plan that performs better and has lower fees.

  • The 529 plan chosen does not affect which state the student enrolls in.

    You can live in New York, open a plan from Nevada and send a student to college in Florida.

  • The best way to maximize your college savings?

    Start early and save often. You can get started today with easy online enrollment.

U.Fund College Investing Plan logo
enroll now
44,351 clicked to enroll

Distributions & Terminations

To whom are distributions made payable:

To whomever the account owner specifies - the account owner, the beneficiary, a school, or anyone else.

Account Changes

Policy regarding participant/owner changes:

Account ownership may not be transferred prior to the owner's death or incapacity.

Documents, Access & Reporting

Does participant have online password-protected access to account?


Can the complete enrollment process including funding be done online?


Documents and other services accessible or downloadable on the program's public Web site:







Start saving for your child's future today

Step 1

Click the blue Enroll Now button to the right

Step 2

Complete the online application and make your first deposit

U.Fund College Investing Plan logo
enroll now
44,351 clicked to enroll