MEFA Announces Transition of U.Plan Prepaid Tuition Program to New Online Platform Powered by Catalis

BOSTON--(BUSINESS WIRE)--MEFA today announced that its prepaid tuition program, the U.Plan, will transition to a new platform powered by Catalis, an integrated payments and SaaS partner with deep experience supporting the postsecondary education savings industry. This transition coincides with an important milestone for the program, as the U.Plan, established in 1995, recently celebrated its 30^th year serving Massachusetts families.

Beginning February 17^th, the updated U.Plan platform will offer a streamlined and mobile-friendly experience. Built in partnership with Catalis, the platform is designed to make it easier for current and prospective savers to plan and save for postsecondary education, while preserving the U.Plan’s reliability that families have trusted for three decades.

“For over 40 years, MEFA has been committed to helping families plan and save for the future,” said Thomas Graf, MEFA’s executive director. “This year, as the U.Plan celebrates 30 years of helping families save for college, we’re proud to enhance the online experience to empower even more families to save with confidence and help students pursue their dreams.”

“Catalis is proud to partner with MEFA, a pioneer and national leader in helping families save and pay for college,” said Maria Padin, Catalis VP Strategic Relationships. “We look forward to delivering state-of-the-art technology and modern digital tools to the families and students who utilize the U.Plan to advance their education and careers.”

Catalis brings extensive experience working with education-focused savings programs, offering secure, user-friendly technology and integrated payment solutions. Through this partnership, U.Plan savers will benefit from an optimized platform that emphasizes ease of use, accessibility, and enhanced security.

The enhanced U.Plan platform will offer:

• A fully online, end-to-end user experience
• The ability to make contributions using PayPal and Venmo, in addition to check and ACH
• Automatic payroll contributions with participating employers
• Simplified and more flexible multi-factor authentication options to improve both security and ease of access
• An intuitive and streamlined registration process
• The capability to allow users to see the value of their savings at each participating school

ABOUT THE U.PLAN

Unlike traditional long-term savings plans, the U.Plan allows families to lock in today’s tuition rates at participating colleges and universities. Contributions made toward a U. Plan account are used to purchase Tuition Certificates that cover a percentage of tuition and mandatory fees. If tuition costs rise over time, the certificates continue to cover the same percentage, helping families avoid the impact of higher tuition rates in the future.

There are more than seventy colleges and universities in Massachusetts currently participating in the U.Plan. Families do not need to select a college or university when opening an account; once the student has been accepted and is ready to enroll, the savings are applied to the chosen school. If the student attends a non-participating school, or decides not to attend college at all, the funds may be withdrawn with no penalties.

To learn more about the U.Plan, or to enroll, visit mefa.org/uplan.

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, competitive 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.