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529 Savings Plan

A 529 College Savings Plan is a specialized account that allows you or your family to save money for your future college expenses. These plans are usually administered by a state or an educational institution.

529 College Savings Plans differ depending upon the state or organization that you sign up with. There can be lifetime limits on deposits and restrictions on what type of qualified college costs can be paid with money saved in a plan. Additionally, there may be fees and tax implications if you use a 529 College Savings Plan. You can view more details about 529 College Savings Plan at the Saving For College website.

If you have a 529 College Savings Plan that you would like to use to pay your Drexel bill, you should contact the organization to determine if they pay directly to you or to Drexel. You can use a copy of your eBill as proof of qualified direct educational expenses.