Footnotes

1 Withdrawals for qualified expenses at a public, private or religious elementary, middle, or high school, registered apprenticeship programs, and student loans can be withdrawn free from federal and Wisconsin income tax. If you are not a Wisconsin taxpayer, these withdrawals may include recapture of tax deduction, state income tax as well as penalties. You should talk to a qualified professional about how tax provisions affect your circumstances. Apprenticeship programs must be registered and certified with the Secretary of Labor under the National Apprenticeship Act. ↩

With your Edvest 529 account, you're never locked in. You'll always have access to several options for this money:

Your funds can be used to pay for a variety of eligible education expenses , including at any accredited college, university, apprenticeships, community college or postgraduate program in the United States—and even some schools abroad. 1

Your 529 can be used for student loan repayment up a $10,000 lifetime limit per individual. 1

Pay for qualified K-12 expenses - up to $20,000 annually can be used per student at a public, private or religious elementary, middle or high school for qualified expenses. Qualified education expenses include curriculum, instructional materials, tutoring by approved professionals, standardized test and dual enrollment fees, and licensed educational therapies for students with disabilities. 1 Click here for more information on qualified K-12 expenses .

You can transfer the funds to another eligible beneficiary, such as another child, a grandchild or yourself.

If you just want the money back, you can withdraw the funds at any time. If funds are withdrawn for a purpose other than qualified higher education expenses, the earnings portion of the withdrawal is subject to federal and state taxes plus a 10% additional federal tax on earnings (known as the "Additional Tax"). See the Plan Description for more information and exceptions.

Account owners may roll money from an Edvest 529 account to a Roth IRA for the benefit of the 529 plan account beneficiary without incurring federal income tax or penalties (state tax treatment varies). For the rollover to be treated as a non-taxable event, certain conditions apply as referenced in Am I eligible to roll over funds from my 529 plan account to a Roth IRA?

You can use funds for recognized postsecondary credentials and credential program fees. Click here for more information on qualified credential programs .

Or you can always wait because the funds never expire , and often the choice to go to school is a delayed decision. So, if your child changes their mind down the road, your account will still be available.