From setting up your account to making withdrawals, here’s how to get the most from your CollegeAmerica® savings plan.
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If you have further questions regarding your CollegeAmerica account:
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Depending on your state of residence, there may be an in-state plan that provides tax and other benefits not available through CollegeAmerica. Before investing in any state’s 529 plan, you should consult your tax adviser.
If withdrawals are used for purposes other than higher education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.