Sharon Student Wins Money for College in Statewide Art Competition

An East Elementary School student has won second place in a statewide art competition and will receive $2,000 in a college savings account at a State House ceremony in May.  Savannah Eastler of Sharon illustrated an underwater archeologist in her winning submission to the 9^th Annual College Savings Art Competition, sponsored by the Massachusetts Educational Financing Authority (MEFA), the state’s authority on college financing.

The nine student winners, who submitted artwork depicting the theme “What do I want to be when I graduate from college?” will share a total of $24,000 in prize money distributed to each in a U.Fund College Investing Plan account, the Massachusetts 529 college savings plan offered by MEFA and managed by Fidelity Investments.  The students will receive their prizes during an awards ceremony on 529 Day, Wednesday, May 29, 2013, from 2-4 p.m. at the State House. To see the winning artwork, visit www.mefa.org/contest.

“Celebrating 529 Day with a State House ceremony honoring the achievement of these students gives us the opportunity to talk to parents across Massachusetts about the importance of saving for college. It is easy to set up a U.Fund account and start saving even a little bit each month. In addition to saving toward a goal, opening a 529 College Savings account helps parents build hope and aspiration for the child’s dream of college,” said Thomas Graf, executive director of MEFA.

The College Savings Art Competition is open to all Massachusetts students in grades K-5, from public, charter, private and home-based schools.  Second- and third-place winners will receive $2,000 and $1,000 respectively, which will be deposited in the student’s name in a U.Fund College Investing Plan account.  The winners are:

• Grade K-1 category: Hannah S. of Natick (1^st place), Evan N. of Sudbury (2^nd place) and Collins M. of Brookline (3^rd place).

• Grade 2-3 category: Amanda-Lexine S. of Attleborough (1^st place), Savannah E. of Sharon (2^ndplace) and Regina P. of Sterling (3^rd place).

• Grade 4-5 category: Andrew T. of Lexington (1^st place), Justin D. of Belmont (2^nd place) and Alexander K. of South Hamilton (3^rd place).

Across the nation, states are recognizing May 29^th as 529 Day highlighting for families the importance of saving for college in 529 college savings plans. In Massachusetts, MEFA is sponsoring a number of events for residents statewide to discuss and get information on college savings and 529 plans.  MEFA will lead a Twitter chat on college savings with the hashtag #MA529day.  In addition, MEFA’s staff will conduct free college savings seminars at its Boston office.

For more information on saving for college and 529 Day, call MEFA’s college savings hotline 1-855-340-2366 or visit www.mefa.org.

The U. Fund College Investing Plan is a tax-advantaged 529 college savings plan.  The U.Fund, which was first introduced in 1999, has grown to more than 175,000 accounts with over $4.1 billion under management.

Parents can start a U.Fund account with a low initial investment of $50 or $15/month with no restrictions on income. Additionally relatives and friends can contribute to a single account benefiting a child. 

For more information about the College Savings Art Competition and other programs sponsored by MEFA, visit www.mefa.org/contest.

About MEFA

MEFA is a not-for-profit self-financing state authority, not reliant on state or federal appropriation that has been working for over 30 years to make higher education more accessible and affordable for students and families in Massachusetts. MEFA was created by the state legislature at the request of Massachusetts colleges and universities and provides community education programs, college savings plans, and low-cost financing options. In its over 30 year history, MEFA has assisted hundreds of thousands of families in financing a college education.