College Resources & News from CFNC
What are the rules around 529 withdrawals? What happens if you take money out of a 529 plan for non-qualified expenses? What are some examples of non-qualified 529 withdrawals and what are the penalties?
How do I use my 529 funds? Do I need to save receipts from my purchases? Are groceries included in eligible 529 expenses? What are some common qualified 529 expenses? What happens if I use 529 funds for non-qualified expenses?
How do I send a gift to a family member's 529 plan? Are 529 gifts tax-deductible? How much can grandparents or extended family gift to a 529 plan? When is the deadline to contribute to a 529 plan?
What is National 529 Day? What kind of incentives and deals can I look forward to when it comes to college savings? When is a good time to open a 529 plan? Are there any deadlines for starting or contributing to a college savings plan? How can I "celebrate" 529 Day?
What are the best college funds to invest in while my child is young to maximize the amount of money we can save for college? Talk me through my options and the pros and cons of each.
I am interested in hearing more about the recent changes to how 529 plan funds can be used. Give me details on the new tax-free rollover into a Roth IRA account. How does this new rule work? How do I avoid the penalty for using 529 funds for things other than education expenses? What are the limitations to rolling over 529 funds into a Roth IRA?
College Foundation is pleased to announce that 15 outstanding North Carolina 7th graders have been named as recipients of the Victor E. Bell, Jr. Scholarship. Each Bell Scholar is eligible to receive up to $20,000 for higher education expenses.
North Carolina students from households making $80,000 or less could have their tuition and fees fully covered at any of the state’s 58 community colleges or more than half of, if not all, of their tuition and fees covered at any of North Carolina’s 16 public universities thanks to the new Next NC Scholarship.
Saving for higher education may seem intimidating. There are so many questions about where to start and how much to save. The uncertainty of it all could make you wonder if you should create a savings planner. The good news: we can help. Discover these four helpful tips for creating a savings planner for a college education.
As an NC 529 participant, your account earnings cover an increasingly wide range of eligible education expenses. Once money is in your account, it can grow tax-free. But before you make a withdrawal, first check that the expense is on the list of qualified 529 expenses.