MEFA Announces a Gift Card to Help Pay for College

In an effort to support families in Massachusetts during College Savings Month, MEFA has introduced the U.Fund Gift of College Card, which is now available at CVS locations throughout the state. This gift card can be purchased in denominations ranging from $25 to $200 and can be used to fund college savings or ABLE accounts, or to help pay off student loans. The initiative aims to provide a practical solution for families looking to ease the financial burden of higher education. Thomas Graf, the Executive Director of MEFA, emphasized the importance of community support in funding college education, noting that a recent survey revealed that 68% of parents believe contributions from family members are crucial. The gift card is designed to be a thoughtful present for various occasions, including birthdays, holidays, and graduations, making it a versatile option for gift-givers. The U.Fund Gift of College Card is also targeted at specific groups, such as expecting parents who can start saving for their newborn's education right from birth, and recent college graduates who can use the funds to alleviate their student loan debt. This initiative reflects MEFA's commitment to enhancing the financial independence and success of students and families in Massachusetts. By partnering with Gift of College and CVS, MEFA aims to make these gift cards widely accessible, thereby encouraging more families to consider college savings as a priority. This program not only promotes financial literacy but also fosters a culture of support among family and friends in the pursuit of higher education.