SoarMA is a two-year pilot program, that offers seventh grade students seed-funded savings accounts. This initiative is designed to help low-income Massachusetts children and families save for postsecondary education and training. The program, funded through public-private partnerships, will provide a matched savings program and a financial education curriculum. These 529 college savings accounts will be offered through the Office of the Massachusetts State Treasurer and Receiver General, in collaboration with the Massachusetts Educational Financing Authority (MEFA) and Inversant.
The SoarMA program will be opened to all eligible seventh graders enrolled in the following middle schools starting in the 2017–2018 school year: Consentino Middle School (Haverhill), Stoklosa Middle School (Lowell), Reid Middle School (Pittsfield), South End Middle School (Springfield), and Worcester East Middle School (Worcester).