What happens if my child does not attend college?
You have several options if your child does not attend college. One option is to change the beneficiary to a member of the family of the original beneficiary. Another option is to transfer the funds from the 529 account into the account of another, related beneficiary. A third option is to make a non-qualified withdrawal. Non-qualified withdrawals have certain tax implications and for a PA 529 GSP account, the valuation of the account will vary based on the type of withdrawal that you are requesting. For more information related to non-qualified withdrawals, please refer to the appropriate disclosure statement.
- What are qualified education expenses?
- Do I have to use my savings at a Pennsylvania college or university?
- What are eligible educational institutions?
- Can I access my account for purposes other than paying for higher education (non-qualified withdrawals)?
- What happens if my child does not attend college?
- Who can access my account?
- When I send mail regarding my account, it goes to Massachusetts, not Pennsylvania. Wouldn't it be more direct to send it in-state?