BOSTON, Mass. — For families relocating to Massachusetts and planning for their children’s future, the Bay State offers a unique opportunity to start building education savings from day one.
Through the BabySteps Savings Plan, eligible Massachusetts families can receive a free $50 deposit when they open a MEFA U.Fund 529 college savings account for their child. The program is designed to encourage families to begin saving early for future educational and career training expenses.
As the cost of higher education, career training, and workforce development programs continues to rise, many parents are looking for ways to prepare financially. A 529 savings plan provides a tax-advantaged way to save for a variety of education-related expenses while allowing investments to grow over time.
What Is a MEFA U.Fund 529 Account?
The MEFA U.Fund 529 College Investing Plan is Massachusetts’ state-sponsored education savings program. Funds can be used for a wide range of qualified educational expenses, making it a flexible tool for families planning for their children’s future.
Qualified expenses include:
• College tuition and fees
• Community college programs
• Trade and vocational schools
• Registered apprenticeship programs
• Textbooks and educational materials
• Certain K-12 education expenses
• Student loan repayment
This flexibility makes 529 plans increasingly attractive to families who recognize that success after high school can take many forms, whether through a traditional four-year university, skilled trades training, or workforce certification programs.
Why Early Savings Matter
Financial experts consistently emphasize the value of starting early. Even modest contributions can benefit from years of compound growth before a child reaches college age.
For families moving to Massachusetts, programs like BabySteps can provide an easy first step toward building an education fund. The free $50 contribution helps establish the account and encourages parents to begin a long-term savings strategy.
Research has shown that children with dedicated education savings accounts are more likely to pursue post-secondary education and career training opportunities than those without savings set aside for future learning.
A Benefit for New Massachusetts Families
Massachusetts is home to some of the nation’s most respected colleges, universities, trade schools, and apprenticeship programs. From world-renowned institutions in Greater Boston to technical and vocational training programs across the state, educational opportunity is a major reason many families choose to relocate to Massachusetts.
The BabySteps initiative aligns with the state’s broader commitment to educational achievement by helping families begin preparing financially for those opportunities as early as possible.
How to Participate
Parents or guardians of eligible Massachusetts children can open a MEFA U.Fund 529 account and enroll through the BabySteps Savings Plan to receive the $50 starter deposit.
For families planning a move to Massachusetts—or those who have recently welcomed a new child—the program offers a simple way to invest in a child’s future while taking advantage of one of the state’s family-focused financial benefits.
As education pathways continue to evolve, from universities to skilled trades and apprenticeship programs, Massachusetts families have more options than ever to use 529 savings to help achieve their children’s future goals.