{"id":58,"date":"2022-09-19T08:41:44","date_gmt":"2022-09-19T12:41:44","guid":{"rendered":"https:\/\/www.citadel.edu\/treasurer\/?page_id=58"},"modified":"2024-07-24T19:24:41","modified_gmt":"2024-07-24T23:24:41","slug":"state-prepaid-tuition-plans","status":"publish","type":"page","link":"https:\/\/www.citadel.edu\/sbs\/payment-information\/state-prepaid-tuition-plans\/","title":{"rendered":"College Savings (529) &amp; State Prepaid Tuition Plans"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-college-savings-529-amp-state-tuition-pre-paid-plans\">College Savings (529) &amp; State Tuition Pre-Paid Plans<\/h2>\n\n\n\n<p><strong>COLLEGE SAVINGS 529 Plan<\/strong><\/p>\n\n\n\n<p>Many students across the country use the 529 College Savings Plan to pay for college and it works out to be a benefit to them. The specific requirements for establishing, enrolling in or withdrawing from a Plan will vary by state; please check with your state or visit Saving For College for links to information for all the state Plans.  Students and\/or parents should contact their 529 plan administrator directly and follow their process to make a withdrawal at least two weeks prior to the due date as it can take up to 14 days for the 529 plan to process the request. <\/p>\n\n\n\n<p><strong>To ensure that the funds are directed to the correct student account, all 529 College Payment Plan should ensure that you include your CWID Student ID, FULL NAME and if mailing a check, please mail to The Citadel Attn: Student Business Services   171 Moultrie Road  Charleston, SC  29409.<\/strong><\/p>\n\n\n\n<p><strong>Please note<\/strong> that Form 1098-T, Tuition Statements, should not be used to validate Form 1099-Q, Payments from Qualified Education Programs, received from a 529 plan provider. Withdrawals from a 529 plan can be used to pay for expenses, such as room and board, however, per IRS rules payments received for these charges cannot be reported in Box 1 of a 1098-T. Statements of account are typically sufficient to show that 529 withdrawals were used for educational expenses. Students who participate in a state\u2019s prepaid plan should notify the Student Business Service office via email at <a href=\"mailto:SBSTuition@Citadel.edu\">SBS@Citadel.edu<\/a>.<\/p>\n\n\n\n<p>Students or parents should be prepared to provide the following information:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Plan name<\/li>\n\n\n\n<li>Plan&#8217;s mailing address\/contact information (so The Citadel can invoice the plan)<\/li>\n\n\n\n<li>Plan type: Tuition or Tuition + Dormitory<\/li>\n\n\n\n<li>State the plan is associated with<\/li>\n\n\n\n<li>Student\u2019s full name<\/li>\n\n\n\n<li>Contract number (if available)<\/li>\n<\/ul>\n\n\n\n<p><strong>Prepaid plans<\/strong> will not allow invoicing until the Drop\/Add period has occurred. After Drop\/Add, we will verify the number of hours of enrollment for the semester and invoice state prepaid plans. <\/p>\n\n\n\n<p>When PREPAID PLAN FUND payment is received, we will post this payment to your student account. PREPAID PLAN payments is usually received 3-4 weeks after invoicing.  Any remaining student account balance is the responsibility of the student.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>College Savings (529) &amp; State Tuition Pre-Paid Plans COLLEGE SAVINGS 529 Plan Many students across the country use the 529 College Savings Plan to pay for college and it works out to be a benefit to them. The specific requirements for establishing, enrolling in or withdrawing from a Plan will vary by state; please check [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40,"parent":50,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"class_list":["post-58","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>College Savings (529) &amp; State Prepaid Tuition Plans - Student Business Services<\/title>\n<meta name=\"description\" content=\"Please notify the Treasurer&#039;s Office if you participated in any state sponsored tuition pre-payment plans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.citadel.edu\/sbs\/payment-information\/state-prepaid-tuition-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"College Savings (529) &amp; 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