Massachusetts College Savings Programs

E617435

Massachusetts College Savings Programs are state-sponsored 529 plans that help families save and invest tax-advantaged funds for future higher education expenses.

All labels observed (2)

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf 529 college savings plan program ⓘ
state-sponsored education savings program ⓘ
administeredBy Massachusetts Educational Financing Authority ⓘ
availableTo Massachusetts residents ⓘ
non-Massachusetts residents ⓘ
beneficiaryChangeRestriction new beneficiary must be a qualifying family member ⓘ
beneficiaryResidencyRequirement no requirement that beneficiary attend a Massachusetts institution ⓘ
beneficiaryType future college students ⓘ
students ⓘ
canChangeBeneficiary true ⓘ
category education finance ⓘ
personal finance ⓘ
contributionLimitType lifetime account balance limit ⓘ
contributionMethod lump-sum contributions ⓘ
periodic contributions ⓘ
country United States ⓘ
educationLevelCovered graduate education ⓘ
postsecondary education ⓘ
undergraduate education ⓘ
eligibleUse books and supplies ⓘ
fees ⓘ
qualified education expenses ⓘ
room and board ⓘ
tuition ⓘ
federalTaxTreatment tax-deferred earnings ⓘ
tax-free qualified withdrawals ⓘ
includesPlan U.Fund College Investing Plan ⓘ
U.Plan Prepaid Tuition Program ⓘ
investmentRisk borne by account owner for investment-based plan ⓘ
marketingName U.Fund and U.Plan college savings programs ⓘ
planType investment-based 529 plan ⓘ
prepaid tuition plan ⓘ
primaryPurpose saving for higher education expenses ⓘ
regulation Section 529 of the Internal Revenue Code ⓘ
relatedTo Massachusetts Educational Financing Authority (MEFA) ⓘ
Massachusetts state income tax ⓘ
college affordability initiatives in Massachusetts ⓘ
shortName Massachusetts 529 plans ⓘ
sponsoredBy Commonwealth of Massachusetts ⓘ
linked to: Massachusetts
state Massachusetts ⓘ
stateTaxBenefit Massachusetts state income tax deduction for contributions (subject to limits) ⓘ
targetUsers families saving for college ⓘ
individual investors saving for education ⓘ
taxAdvantaged true ⓘ
withdrawalCondition non-qualified withdrawals may incur taxes and penalties ⓘ
qualified withdrawals are tax-advantaged ⓘ

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Treasurer and Receiver General of Massachusetts → oversees → Massachusetts College Savings Programs ⓘ
Massachusetts College Savings Programs → shortName → Massachusetts 529 plans ⓘ
linked to: Massachusetts College Savings Programs