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Students can win college savings accounts, deadline to enter Oct. 31

BOSTON –Time is running out for Massachusetts students to enter for a chance to win money for college in the 9th annual College Savings Art Competition. The deadline for children in grades K to 5 to submit their entries is Oct. 31 at 5 p.m.

Sponsored by MEFA, the College Savings Art Competition is now accepting submissions of artwork depicting "What do I want to be when I graduate from college?" The contest, previously open only to students in grades 3, 4 and 5, now includes grades K, 1 and 2. Students must live in Massachusetts and may attend any public, private, charter or home-based school.

In the past eight years, MEFA’s College Savings Art Competition has received more than 17,000 entries and awarded $192,000 in U.Fund College Investing Plan accounts as prizes. Nine finalists will be selected from this year’s entrants to receive three first-place prizes of $5,000 in a U.Fund College Investing Plan account; three second-place prizes of $2,000 in a U.Fund account; and three third-place prizes of $1,000 in a U.Fund account.

The U.Fund is the Massachusetts 529 college investing plan that lets families save for higher education expenses at colleges and universities across the country, with significant tax advantages and flexible savings options managed by Fidelity Investments.

Information about the competition has been distributed to superintendents and principals across the Commonwealth, and MEFA has asked school districts to send competition information home to parents in student backpacks or via virtual backpacks.

The deadline for submitting artwork to MEFA is Oct. 31 at 5 p.m. Winners will be announced on or about March 31, 2013 and will be honored at special ceremony at the State House in the summer. For more information about the College Savings Art Competition, or to receive a copy of competition rules and entry forms, visit or call 1-800-449-MEFA.