Written by Zeryn Macklin.
The 529 college savings plans are a popular method for families to save for education expenses, and the University Cashier’s Office is here to ensure that these funds are processed efficiently. Here’s an overview of how we handle 529 plan payments and integrate them into the student’s account.
Managing 529 Withdrawals and Payments
When a parent or student initiates a withdrawal from their 529 plan, they must follow their plan’s specific procedures, which vary by provider. They can print their eBill from the MyPack Portal if their plan requires proof of qualified educational expenses. For non-billed cost of attendance items, this data is also available for printing. It’s crucial to advise families to contact their 529 provider well in advance of due dates to ensure timely payments.
We recommend that students and parents request electronic delivery of their 529 payments. The College Foundation of North Carolina has this ability, as do many other plans.
If electronic delivery is not an option, we suggest that 529 checks be sent directly to the student or parent first, allowing them to clear the funds and then remit payment through our ePay service in the MyPack Portal. This method ensures faster processing and immediate posting to the student’s account and allows the parent or student to communicate with the 529 plan directly if any issues occur.
Alternatively, checks can be mailed directly to the University Cashier’s Office. If so, checks must:
- Be made payable to North Carolina State University
- Include the student’s full name
- Include the nine-digit Student ID
- Mail payment to: NC State University, Cashier’s Office, 2005 Harris Hall, Campus Box 7213, Raleigh, NC 27695
For further details about 529 college savings plans, the Saving for College website is a valuable resource, and information on tax benefits can be found at www.irs.gov.
For specific inquiries about North Carolina 529 plans, access the College Foundation of North Carolina page or call 1-800-600-3453.