The new school year is just around the corner and so are the due dates for your higher-education bills. One of the easiest ways to pay qualified expenses such as tuition, books, dorm fees and supplies is by making online withdrawals from your College Savings Iowa account.*
Pay college bills easily with online withdrawals
Simply log on to CollegeSavingsIowa.com and choose the correct beneficiary’s (student’s) account; then select Make a withdrawal from the left-hand menu and follow the simple steps. You can request a check made payable to you (as the account owner), the beneficiary or the school. You can also have the money sent directly to your bank account. Note: Once you add or change bank information, there is a 15-calendar- day verification period before the plan can make electronic transfers to that account.
If your withdrawal is being sent directly to the school, make sure you enter the student’s ID number in the “Check Memo” field so that your payment will not be delayed.
You can also make withdrawals by printing and mailing the Withdrawal Request Form found on our website on the Forms page or by calling 888-672-9116 and providing account, beneficiary and school information.
*The earnings portion of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty, as well as state and local taxes.