Alternatively, you may withdraw funds from your account equal to the scholarship amount without incurring the 10% federal penalty on the earnings portion.<\/p>\n
The earnings portion of your withdrawals may still be subject to state and federal income taxes. (You should carefully read the information in your plan’s Plan Disclosure Statement, or consult a tax advisor for your specific situation.)<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Flexible Promo Section” module_class=”flexible-promo-image-right tax-benefits” _builder_version=”4.16″ da_disable_devices=”off|off|off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”bottom” global_colors_info=”{}”][et_pb_text admin_label=”Flexible Promo Content” module_class=”h2-dark” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Not just Colorado<\/h2>\n
You don\u2019t have to live in Colorado to open a CollegeInvest account. Nor does your child or student have to go to college in the state of Colorado. Your savings can be used for qualified educational expenses at an eligible school anywhere in the country, and even outside of the United States in some cases.<\/p>\n
\u201cEligible\u201d means that the school participates in the federal loan program. <\/p>\n
[\/et_pb_text][et_pb_button button_url=”https:\/\/fafsa.ed.gov\/spa\/fsc\/#\/SEARCH?locale=en_US” url_new_window=”on” button_text=”See a list of eligible schools” admin_label=”Button Blue” module_class=”button blue large shorttext” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”right” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.collegeinvest.org\/wp-content\/uploads\/2022\/08\/2U9A1613_1-sfw.jpg” alt=”A boy and a girl playing outside with a swing and puppy” title_text=”2U9A1613_1-sfw” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Flexible Promo Image Left” module_class=”flexible-promo-image-left tax-benefits fit-height-image ” _builder_version=”4.16″ da_disable_devices=”off|off|off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”left” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.collegeinvest.org\/wp-content\/uploads\/2021\/09\/20160809M-1122_saved-for-web-e1632558937185.jpg” alt=”My grandchild may not want to go to a university” title_text=”20160809M-1122_saved-for-web” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”bottom” global_colors_info=”{}”][et_pb_text module_class=”h2-dark content-tax-benefits” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
My grandchild may not want to go to a university<\/h2>\n
Our savings plans aren\u2019t limited to just colleges or universities or graduate programs.<\/p>\n
Your CollegeInvest account can be used at community colleges or trade schools<\/a>, two-year nursing or medical technician programs, or a two-year online program on entrepreneurship and small business management. Even qualified special interest programs such as art schools, hair stylist and barber schools, chef or culinary schools, master plumber programs, and more. And even expenses for apprenticeships<\/a>!<\/p>\n Are you a grandparent interested in 529 Savings?[\/et_pb_text][et_pb_button button_url=”\/529-savings-plans\/grandparents\/” button_text=”529 PLANS FOR GRANDPARENTS” admin_label=”Button Blue” module_class=”button blue large shorttext” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Terms of Agreement” module_class=”terms-of-agreement p-big-dark h2-dark plan-529″ _builder_version=”4.16″ _module_preset=”default” da_disable_devices=”off|off|off” locked=”off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row module_class=”content” _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”bottom” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”headline-left” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Some Parents and Grandparents prefer to be more hands on with their investment options, whether it\u2019s in reaction to market conditions, estate planning benefits, or family circumstances and life events.<\/p>\n As the Account Owner, you can change your investment options twice<\/strong> within a calendar year without penalties.<\/p>\n Common reasons 529 Account Owners change investment options: <\/strong><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”More Benefits” module_class=”benefits-all-section more-benefit” _builder_version=”4.16″ background_image=”https:\/\/www.collegeinvest.org\/wp-content\/uploads\/2021\/08\/sidebar-remove-line.png” da_disable_devices=”off|off|off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row module_class=”benefits-headline” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” animation_style=”slide” animation_direction=”bottom” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Headline” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ module_class=”slider-more-benefits” _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”bottom” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.collegeinvest.org\/wp-content\/uploads\/2021\/09\/Benefit-Check.png” alt=”Green checkmark icon” title_text=”Benefit-Check” url=”https:\/\/www.collegeinvest.org\/529-savings-plan-benefits\/529-plan-tax-advantages\/” admin_label=”icon” module_class=”benefits-icon-check” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”Content” module_class=”benefits-col-content h2-light p-big-light” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n For Colorado taxpayers, contributions to any CollegeInvest 529 account can be deducted from your Colorado state income tax return. Your earnings grow free of federal and state taxes.<\/p>\n [\/et_pb_text][et_pb_button button_url=”\/529-savings-plan-benefits\/529-plan-tax-advantages\/” button_text=”learn more” admin_label=”Button White” module_class=”button white” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.collegeinvest.org\/wp-content\/uploads\/2021\/09\/Benefit-Check.png” alt=”Green checkmark icon” title_text=”Benefit-Check” url=”https:\/\/www.collegeinvest.org\/529-savings-plan-benefits\/529-plan-savings-account-control\/” admin_label=”icon” module_class=”benefits-icon-check” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”Content” module_class=”benefits-col-content h2-light p-big-light” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n You as the Account Owner control the number of accounts, the Beneficiaries, how much to save, what you pay for and when, and more. With the flexibility to change any of these when YOU want to.<\/p>\n [\/et_pb_text][et_pb_button button_url=”\/529-savings-plan-benefits\/529-plan-savings-account-control\/” button_text=”learn more” admin_label=”Button White” module_class=”button white” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.collegeinvest.org\/wp-content\/uploads\/2021\/09\/Benefit-Check.png” alt=”Green checkmark icon” title_text=”Benefit-Check” url=”https:\/\/www.collegeinvest.org\/529-savings-plan-benefits\/affording-529-savings-plans\/” admin_label=”icon” module_class=”benefits-icon-check” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”Content” module_class=”benefits-col-content h2-light p-big-light” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n No, you don\u2019t have to be a millionaire (or related to one) to have a CollegeInvest account. We want accessibility for all parents and grandparents to save for their education goals.<\/p>\n [\/et_pb_text][et_pb_button button_url=”\/529-savings-plan-benefits\/affording-529-savings-plans\/” button_text=”learn more” admin_label=”Button White” module_class=”button white” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=”Swipe to see more” module_class=”skip-check-list-row white” _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”bottom” collapsed=”on” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][et_pb_row module_class=”more-benefits-footer” _builder_version=”4.16″ _module_preset=”default” animation_style=”slide” animation_direction=”bottom” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjgifX0=@” button_text=”back to all benefits” admin_label=”Button Deep Cerulean Blue” module_class=”button deep-cerulean btn-large” _builder_version=”4.16″ _dynamic_attributes=”button_url” _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][et_pb_text admin_label=”Footnotes” module_class=”foot-notes background” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Investment returns are not guaranteed, and you could lose money, including principal.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"Change your 529 plan investments easily<\/h2>\n
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More 529 plan benefits:<\/h2>\n
Tax Benefits<\/a><\/h2>\n
Control<\/a><\/h2>\n
Affordability<\/a><\/h2>\n
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