How to Withdraw Money from Your 529 Plan

Money saved in a 529 plan can be withdrawn tax-free to pay for qualified education expenses. It’s up to the 529 plan account owner to calculate the amount of the tax-free distribution and how they want to receive the funds. Withdrawal requests can usually be made on the 529 plan’s website, by telephone or by mail.

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Can You Use a 529 Plan to Pay for Trade School?

529 plans can be used to pay for postsecondary education at any eligible institution, including trade schools. Trade school programs typically take less than two years to complete, and cost significantly less than a bachelor's degree from a 4-year college.

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How to Fill a College Savings Gap

Even after years of saving in a 529 plan, many parents come up short when it’s time to pay for college. It may be tempting to dip into retirement savings or take out an excessive amount of student loans to fill the gap but doing so may put your (or your child’s) future financial security at risk.

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Legacy Admissions

Most of the top colleges in the United States consider an applicant’s relation to alumni in the admissions process. This approach, which may give children or relatives of alumni an advantage in the admissions process, is commonly called legacy admissions or legacy preferences. Here’s what you should know about legacy admissions, how it may affect you and why it’s a hotly debated topic in making college access a reality for more students.

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Jump-Start College Savings with a No-Spend Month

Looking for a quick way to boost your child’s college savings? Consider a no-spend month. By limiting purchases to necessities only for 30 days, parents can potentially free up hundreds of dollars to contribute to a 529 plan.

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