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.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
529 college savings plan program
ⓘ
state-sponsored education savings program ⓘ |
| administeredBy | Massachusetts Educational Financing Authority NERFINISHED ⓘ |
| 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 of America
ⓘ
surface form:
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
NERFINISHED
ⓘ
U.Plan Prepaid Tuition Program NERFINISHED ⓘ |
| 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)
NERFINISHED
ⓘ
Massachusetts state income tax ⓘ college affordability initiatives in Massachusetts ⓘ |
| shortName | Massachusetts 529 plans NERFINISHED ⓘ |
| sponsoredBy | Commonwealth of Massachusetts NERFINISHED ⓘ |
| 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 ⓘ |
Referenced by (1)
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
ⓘ