FAQs

No. Many beneficiaries will attend Alabama schools; however, funds may be used at eligible schools nationwide and some foreign schools too.

Any postsecondary educational institution that meets accreditation criteria and is eligible to participate in Federal Student Aid programs is eligible. This includes institutions such as public and private colleges and universities; vocational, trade, technical, and professional institutions; and even some foreign schools. Check out a listing of eligible schools from the […]

Qualified higher education expenses (as defined in Section 529 of the Internal Revenue Code) include:

• Tuition, fees, books, supplies, and equipment required for the enrollment or attendance of a Designated Beneficiary at an eligible educational institution;
• Expenses for room and board (with certain limitations) incurred by the Designated Beneficiary who are enrolled at least half-time;

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Make sure you keep receipts and invoices for any qualified college expenses in your tax files. CollegeCounts does not require any proof of your withdrawals, but you will want to have documentation of your expenses in the event the IRS has questions. We also recommend that you match any withdrawals from your CollegeCounts 529 account […]

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a refund from an Eligible Educational Institution for Qualified Higher Education Expenses that were paid from money withdrawn from your Account, you can: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.

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If you do not use all the funds in your account – you have a number of options.

1. You can leave the funds in the account in the event your beneficiary (or another member of the family) goes back to school at a later date.
2. You can change the beneficiary to another member of the […]
   

1. The quickest and easiest way is online. Log in and request a withdrawal online.
2. Complete and mail the Withdrawal Request Form.
3. Call with any questions and we’ll be happy to assist (toll-free at 866.529.2228 from 7:30 AM to 6:00 PM, Central, Monday through Friday).

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Effective January 1, 2024, CollegeCounts 529 assets can be rolled over directly into a Roth IRA.

IMPORTANT: The following limitations and restrictions apply:

• The CollegeCounts 529 Account must have been maintained at least 15 years.
• Only contributions (and any earnings attributable thereto) made to the CollegeCounts Account more than five years prior can be rolled over.
• The Roth IRA rollover must be […]