During this unprecedented event, CollegeCounts is committed to continuing to provide the high level of service you have come to expect. Here are some important reminders for accessing and managing your CollegeCounts account:
- We are open to serve you
- Sign up for online access
- Online access can provide the most effective and efficient processing of transactions
- Online access allows you to view and transact on your account online 24/7
- To activate online access:
- Click on “Login” in the upper, right corner of this page and select “Current Investor Login”
- Click “Sign up for access” and follow the easy online steps
- Important: Once in your account, sign up for e-Statements and e-Delivery
- Our Customer Care Center remains open for your questions
- We stand ready to serve. Should you experience a longer wait time we apologize for any inconvenience. Thank you for your understanding.
- Please note some national carriers have and may experience intermittent delays.
- Contacting Us
- Click on “Contact” in the upper, right corner and select the contact method most convenient for you
- A tip for account holders during this time is to watch out for scams, including suspicious emails or text messages.
- CollegeCounts will never ask you for your log in credentials in an email or text message.
- If you receive a suspicious email or text message, don’t respond or click on any links/attachments.
Refunds from Eligible Educational Institutions
If you receive a refund from an Eligible Educational Institution for Qualified Higher Education Expenses that were paid from money withdrawn from your Account, you can:
- Pay for Other Qualified Higher Education Expenses – you can use the funds to pay other Qualified Higher Education Expenses incurred by that Beneficiary in the same calendar year.
- Recontribute Refunded Amounts to a 529 Account – if a student receives a refund of Qualified Higher Education Expenses that were treated as paid by a 529 distribution, the student can recontribute these amounts into any 529 account for which they are the beneficiary within 60 days after the date of the refund. The amount recontributed cannot exceed the amount of the refund.
- EXTENSION OF TIME – for refunds made on or after February 1, 2020 and prior to May 16, 2020 the IRS has extended the time to recontribute funds to the greater of 60 days or July 15, 2020.
You should consult with your financial, tax or other advisor regarding your individual situation.
What is Happening in the Markets?
As history has shown, market downturns are normal and while unsettling, they tend to be short lived. The widespread impact of the coronavirus is dramatically impacting our daily lives and the markets. Broad economic uncertainty returned with a vengeance as the coronavirus continued its spread to Europe and the U.S. and an oil price war began between Saudi Arabia and Russia. Markets around the world have seen significant declines as investors are selling off riskier assets like stocks and looking for safe-haven assets such as treasuries and gold. The energy sector in particular has been a large drag on the market and volatility has been at extraordinary levels.
Efforts to slow the spread of the virus in the US and globally will have a negative impact on economic growth. Social distancing and other containment strategies are expanding and the negative impact on economic activity will likely grow as the approach becomes stricter and lasts longer than originally anticipated.
Central banks have stepped in across the globe to provide support and stimulus while governments are processing fiscal stimulus to accompany the monetary support. The last several weeks have also seen the Fed take extraordinary action to facilitate liquidity in the capital markets.
What Should Investors Do?
In light of current market conditions, account owners should continue to periodically assess their investment choices with their time horizon, risk tolerance and investment objectives in mind. Investors should keep in mind that market downturns happen, be thoughtful and steady when making investment decisions. Market timing, i.e. buying and selling investments based on what you believe the markets will do next, tends to be risky and is not a recommended investment strategy. Instead, investors do best when holding a diversified portfolio, investing steadily and adhering to a long-term plan.
Health and Safety
Our thoughts are with those adversely affected by the Coronavirus. Keeping both our associates, and the general public as safe as possible is one of our highest concerns right now, while still making sure your information is secure.
For more details about COVID-19, please visit the Centers for Disease Control and Prevention.