How to use your U.Plan savings



Congratulations! You’re getting ready to send your child off to college in the fall. And even better, you’ve saved in the U.Plan. So how do you use your U.Plan savings now that you need them?

Here are 5 easy steps:

  1. Locate your Distribution Request Form. If you have accounts that are maturing this academic year, we sent you a Distribution Request Form in the mail in mid-April. If you have misplaced your form, or never received it, give us a call at 800-449-6332 and we’ll send you a new one.
  2. Make your choice. Indicate on your Distribution Request Form where you would like us to send your funds for this year. If your child is not attending a participating U.Plan college or university, you can indicate that you would like to cash out your funds and receive back what you initially saved, plus interest. That amount will be listed on your form. You can also choose to hold the certificates for the time being, if you haven’t decided what your plans are yet.
  3. Send your form back to MEFA. Lots of customers question if the school knows about a student’s U.Plan money. We send the U.Plan schools a pre-disbursement roster showing all of the students at that school with U.Plan funds, and each student’s amount, but we need to have a Distribution Request Form back to us by the due date for the student to make it on that roster.
  4. Know the procedure for cashing out. If you’re cashing out your U.Plan savings, you should receive your distribution the first week in August. Be on the lookout for a confirmation letter, and then a check from Fidelity Investments, which should arrive 7 – 10 business days later. If you’re planning on using that money to pay for tuition at a non-participating school, you may want to talk to the school and let them know that you are expecting this money. Please feel free to contact us for any help you may need.
  5. Take advantage of your savings. MEFA sends out our first disbursements for the year to U.Plan schools in the first week in August. If your U.Plan disbursement is going to your child’s school, you will receive a letter confirming the amount that has been paid.

4 thoughts on “How to use your U.Plan savings

  1. Fred Gosiewski

    It is June 4, and I have not yet received a bill from the college. I do not know how much of the UPlan certificate that I will be using in payment to the college. I have to return the form to mefa by June 6. What do I do?


    Hi Fred, thank you for your comment! Because you have not received your bill yet, you have a few options. You may hold onto the form until you receive the bill, or you may send the form into MEFA now and contact us upon receipt of the bill to request a specific amount to go to the college. If you are concerned about either of these options or just have some more specific questions, please feel free to contact Angelina Mancini, Manager of Early College Planning, at 617.224.4817.

  3. Fred Gosiewski

    If I send in the form now, what option do I check? If I just hold the form, and ignore the deadline, would the college still be expecting that I will be using UPlan money? I do have another specific question, so I will call. Thanks.

  4. MEFA

    Hi Fred. Definitely give Angelina a call – she is expecting to hear from you and will be able to answer all of your specific questions. Thank you for reading the blog!


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