529 Plans

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A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.

Payments coming to the college from 529 plans generally come in the form of a check. The check can be mailed or hand-delivered to any campus location where a Student Accounts Office exists. Please communicate with your 529 plan provider to ensure funds are received before the payment deadline. Students with account balances at the time of payment deadline will have their schedule for the semester deleted. Proof of postmark or verification of funds’ withdrawal will not satisfy the requirements of payment deadlines. Funds must be received by the college and posted to the student’s Banner account.

More information about 529 Plans

Once funds are received and posted the student’s account, a receipt will be mailed from Student Accounts. During the refunding period, any credit balances will be generated to the student via his or her BankMobile Disbursements refund selection. Funds sent to the college from 529 Plans will be directly credited for tuition and any fees. If the account holder has withdrawn funds to cover expected bookstore expenses, please know that the bookstore is operated by an outside, contracted vendor. The student will need to purchase books/supplies using his or her own money or other resources. Any credit balances from the 529 Plan payment will be refunded but not in time for bookstore purchases.

Banner Information

Before payment deadlines, students who are receiving payments from third-parties should ensure that the Student Accounts Office has received the needed information and updated the student’s Banner Web account.

To view the third-party information on Banner after you log in:

  1. Go to Student Services and Financial Aid
  2. Select Financial Aid
  3. Select Award
  4. Select Account Detail for Term

Any financial aid (HOPE, Pell, etc.) will show in the top portion of the screen, and any third-party information will show after any financial aid information (if applicable).

Special note for payments from 529 plans: These payments, when received, will show as true “payments” on a student’s Banner Web account and not as “third-party” payments. This being the case, they will show in the top section of Banner Web’s student account detail.

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