Child looking up at a bright future, symbolizing college savings and opportunity.

Smart College Savings Plans for Massachusetts Families

Navigate 529 plans, tax advantages, and investment options with expert guidance from our Boston advisors.

What is a 529 Plan and Why Do You Need One?

The #1 Tool for College Savings: a powerful, tax-advantaged way to save for education expenses.

Tax-Free Growth

Your investments grow free from federal and state income tax, maximizing your savings potential over time.

Tax-Free Withdrawals

Use the money for qualified education expenses, from tuition to room and board, without paying any taxes on the earnings.

MA State Tax Deduction

Massachusetts residents can deduct up to $1,000 (single) or $2,000 (joint) for U.Fund contributions. We'll show you how to maximize this benefit.

Answering Your College Savings Questions

Assets in a parent-owned 529 plan have a minimal effect on federal financial aid eligibility, typically assessed at a maximum of 5.64%. This is often more favorable than other savings vehicles. Grandparent-owned 529s can be more complex, but we can help strategize the best approach for your family's situation.

You have options! You can change the beneficiary to another qualified family member (child, grandchild, niece, nephew). Alternatively, you can withdraw the money, though earnings would be subject to income tax and a 10% penalty. Recent changes also allow for rollovers to Roth IRAs, offering even more flexibility. We’ll discuss all scenarios with you.

There's no single answer, as college costs vary significantly. We use specialized tools to project future college costs for both in-state and out-of-state universities. Based on your goals and current financial situation, we help you set a realistic, achievable monthly savings goal, ensuring you're confident in your plan.

Getting Started is Easy

Step 1: Set Your Goal

We'll help you estimate the future cost of college based on your timeline and aspirations, giving you a clear target to aim for.

Step 2: Choose a Plan

We'll guide you through the intricacies of the MA U.Fund plan, explaining investment options and risk profiles to match your comfort level.

Step 3: Automate & Grow

We'll help you set up automatic contributions, ensuring consistent growth and keeping your savings journey simple and stress-free.

Give Them the Gift of Opportunity

Planning for college doesn't have to be overwhelming. Let our experts guide you to the smartest savings strategy, tailored for your family's future.

Book a Free College Savings Call