If you’re one of the many parents who are already concerned about paying for their child’s higher education, the U.Fund is here to help! The Children’s Museum in Easton will be hosting a date of the U.Fund Dreams Tour as a part of Free Fun Friday on July 26.
The idea behind the U.Fund is for parents to have a safe savings account for their child’s future. Parents do not pay taxes on any money earned in their U.Fund savings account or on withdrawing money to pay for educational expenses. Furthermore, “There’s no annual account fee, no income restrictions, and you can start saving with as little as $15 a month. Contributions can be made automatically from your bank account. “*
The U.Fund plan is a Massachusetts 529 college savings plan operated by MEFA, Massachusetts Educational Financing Authority. The U.Fund “combines significant tax advantages and age-based savings strategies managed professionally by Fidelity Investments, program manager of the U.Fund. A 529 college savings plan lets you save for higher education expenses at colleges and universities across the country, with flexible and affordable savings options.”*
To promote this opportunity to parents, MEFA and Fidelity are partnering up with museums and special events around Massachusetts on what is called the U.Fund Dreams Tour.
On the dreams tour, the “activity pavilion” will give children a chance to pose for portraits dressed up as their aspired future profession i.e. astronaut, teacher, zoologist and more! Children will also get the opportunity to create art depicting what they want to be when they grow up. At the same time, parents will be able to learn about saving and planning for their child’s future.
There are many opportunities to win money on both the U.Fund Dreams Tour and on the U.Fund website here: http://www.mefa.org/mefaufund/
We hope to see your family at the Children’s Museum in Easton, and take part in the U.Fund Dreams Tour!
*Quotes were taken from the U.Fund website and can be found at http://www.mefa.org/mefaufund/.