What if the beneficiary decides not to go to college?
• Stay invested. You can leave the money in the account in case the beneficiary decides to attend school later. There is no age limit for using the money. • Change the beneficiary. You can change the beneficiary on your account at any time provided that the new beneficiary is an eligible family member of the original beneficiary. For a complete list of eligible family members, refer to the Program Description. • Withdraw the money for other uses. A 10% federal penalty tax on the earnings will apply if you withdraw money from an account for any reason other than to pay for qualified college expenses. Exceptions to this penalty include a withdrawal made because the beneficiary: • Has died or become disabled. • Received a scholarship, to the extent the withdrawal amount does not exceed the scholarship amount. • Has enrolled in the United States Military Academy, the United States Naval Academy, the United States Air Force Academy, the United States Coast Guard Academy, or the United State
• Stay invested. You can leave the money in the account in case the beneficiary decides to attend school later. There is no age limit for using the money. • Change the beneficiary. You can change the beneficiary on your account at any time provided that the substitute beneficiary is an eligible family member of the original beneficiary. For a complete list of eligible family members, refer to the Program Description. • Withdraw the money for other uses. A 10% federal penalty tax on the earnings will apply if you withdraw money from an account for any reason other than to pay for qualified college expenses. Exceptions to this penalty include a withdrawal made because the beneficiary: • Has died or become disabled. • Received a scholarship, to the extent the withdrawal amount does not exceed the scholarship amount. • Has enrolled in the United States Military Academy, the United States Naval Academy, the United States Air Force Academy, the United States Coast Guard Academy, or the Unite
