How to Use Your Account
CollegeAmerica is available only through your financial professional. If you do not have a financial professional, please call us at (800) 421-4225 for assistance with locating one in your area.
Once your account is set up, you can buy shares online or by phone, through your advisor, or by mailing a check.
Log in to your account and click Buy to purchase shares online. Be sure to have your bank information on hand if it’s not already on file.
Call us at (800) 421-4225.
Send your request to an American Funds Service Center. Be sure to include:
Whether you want to update your CollegeAmerica investment allocations or your beneficiary designation, you can make changes yourself or through your financial professional.
You may reallocate your CollegeAmerica investment twice per calendar year and whenever there’s a change to the beneficiary of the account.
You may change the beneficiary of the CollegeAmerica account at any time. To avoid tax treatment of the change as a withdrawal, the new beneficiary must be a member of the family of the previous beneficiary.
Generally, UGMA/UTMA custodians may not change the beneficiary of a custodial CollegeAmerica account. Custodians wishing to change beneficiaries should seek legal advice as funds held in UGMA/UTMA accounts represent an irrevocable gift to a specific individual. View our FAQ page to learn more about changing beneficiaries.
Make changes to your CollegeAmerica account, including beneficiary and owner.
When it’s time to withdraw the money you’ve worked hard to save since you opened your CollegeAmerica account, you can redeem shares in several ways:
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.
If withdrawals from 529 plans 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. State tax treatment of K-12 withdrawals varies. Please consult your tax advisor for state-specific details.
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.