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DECEMBER 1, 2019
Let us send tuition checks directly to your college
Did you know when you take a CollegeAmerica® withdrawal online, you can have us send a check directly to your college or university?*
This means you won’t have to call, mail a form or write a personal check to pay for qualified education expenses.
Once you've completed your withdrawal online, we’ll mail the payment to your college. If you provide a student identification number, we will include it on the check to help ensure the payment is applied correctly.
Here’s what you’ll need when you take your withdrawal:
- Name of college or university
- Mailing address for the payment
- Student’s school ID number
To get started, just log in and click "Sell" in your 529 account.
You must be registered online to take advantage of this option. If you aren't, it takes only a few minutes to register your account.
* This feature is available only for payments sent to eligible higher education institutions.
If withdrawals are used for purposes other than qualified education expenses, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax. States take different approaches to the income tax treatment of withdrawals. For example, withdrawals for K-12 expenses may not be exempt from state tax in certain states.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries.
Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits, such as financial aid, scholarship funds and protection from creditors, not available through CollegeAmerica. Before investing in any state's 529 plan, investors should consult a tax advisor.
This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.