What happens if my child does not attend college?

You have several options if your child does not attend college. One option is to change the beneficiary to a member of the family of the original beneficiary. Another option is to transfer the funds from the 529 account into the account of another, related beneficiary. A third option is to make a non-qualified withdrawal. Non-qualified withdrawals have certain tax implications and for a PA 529 GSP account, the valuation of the account will vary based on the type of withdrawal that you are requesting. For more information related to non-qualified withdrawals, please refer to the appropriate disclosure statement.

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The Pennsylvania 529 College Savings Program sponsors two plans-the Guaranteed Savings Plan (GSP) and the Investment Plan (IP). The guarantee of the PA 529 Guaranteed Savings Plan is an obligation of the GSP Fund, not the Commonwealth of Pennsylvania or any state agency. Before investing in either plan, please carefully read that plan's disclosure to learn more about that plan including investment objectives, risks, fees, and tax implications.