Need A Thoughtful, Yet Easy Gift This Holiday Season? MEFA’s Savings Gift Cards Now Available to Buy Online

BOSTON--(BUSINESS WIRE)--The MEFA co-branded Gift of College^® gift card is now available for purchase online at MEFA.org/giftcard, making it even easier than ever to help a loved one save for the future or pay down education debt. This thoughtful gift can be delivered instantly to the recipient’s inbox and redeemed toward a U.Fund 529 or U.Plan Prepaid Tuition account or used to pay down a student loan.

Also new for this holiday season, the MEFA Gift of College Card is more widely available at popular retailers across the Commonwealth, including CVS, Cumberland Farms, and Stop and Shop. Launched last year, the MEFA Gift of College Card enables the recipient to quickly and easily transfer the card’s cash value toward a MEFA college savings account or student loan balance.

Similarly, the MEFA Gift of Independence Card is also available online, a quick and easy way to contribute savings toward an ABLE account for the health and personal expenses of individuals with disabilities without affecting their federal benefits. Attainable^® is the official ABLE program of Massachusetts.

“There is no greater gift than helping a loved one save the financial resources they may need for their future success. At MEFA, our mission is to help all families by making it as easy as possible to save for future expenses or pay down college loans,” said Thomas Graf, Executive Director of MEFA, the Massachusetts Educational Financing Authority.

The gift cards, available in amounts between $25 and $200, can be redeemed not only into a college savings or 529A ABLE account, but also toward payments on a student loan balance. It’s the perfect gift for birthdays, holidays, graduations, and other special occasions.

Says Patricia Roberts, Gift of College’s Chief Operating Officer and mom of a recent college graduate, “I’m excited to be an individual who gives the gift of college….for every baby shower, every birthday party, every December holiday. It’s my go-to choice because it’s easy to give and I feel it's among the most useful gifts that a family can receive.”

And Patricia isn’t the only one giving the gift of savings. Since they’ve been launched, over 720 MEFA-branded Gift of College cards have been sold, with over $174,862 gifted to recipients since June of 2024. In addition, over 3,844 non-branded gift cards have been redeemed into U.Fund accounts since June of 2024.

Transferring the funds from the card to a college savings account, student loan account, or ABLE account is done online at giftofcollege.com. MEFA has partnered with Gift of College and participating retailers to make the gift cards available.

About MEFA

MEFA is a state authority, not reliant on state or federal appropriations, established under Massachusetts General Laws, Chapter 15C. MEFA’s mission, since its founding in 1982, has been to help Massachusetts students and families access and afford higher education and reach financial goals through education programs, tax-advantaged savings plans, affordable loans, and expert guidance. All of MEFA’s work aligns with the ever-present goal to support the independence, growth, and success of Massachusetts students and families. Visit mefa.org to learn more.