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Submitting payment from a 529 plan

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. How plans are structured and how to access funds from the plan varies by state, plan administrator, and the plan itself.

Funds sent from 529 plan to you (recommended)

Most 529 plans do not require plan payments be sent directly to the University. The payment can instead be sent to the plan owner or you, who can then make a payment to the student account directly. We recommend this option if it is available to you.

If your plan wants verification of your charges, you can provide a PDF copy of your billing statement

Funds sent to the University directly from the 529 plan

If your plan requires that funds are sent directly to the University, you will need to start the process in time for the funds to reach your account. Instruct your plan to:

  • Make the check payable to the University (and not the beneficiary or plan owner)
  • Include your student ID number
  • Send no more than is due on your account (the University does not accept payments in excess of what is owed)
  • Mail the payment to

University of Minnesota Duluth
140 DAdB
1049 University Dr.
Duluth, MN 55812

Invoicing the plan directly

If your plan administrator requires invoicing, please see the information on Third Party Billing

Questions

If you have questions about what qualifies as legitimate expenses for 529 funds, tax implications, options for accessing your funds, or general questions about 529 plans, contact your plan administrator.

If you have questions about how to submit your 529 plan payment to your account at the University, contact Student Financial Services at (218) 726-8103.

Important Dates

Billing & Payment

Thu, Oct 1, 2020 Last day to make changes to student health insurance
Mon, Oct 5, 2020 Second billing statement for fall available (due date: 10/18/20)
Sun, Oct 18, 2020 Fall payment due in full (or second payment if enrolled in payment plan)