State Treasurer of Iowa

Debunking 529 myths

Fiction: If my child doesn’t go to college, I will lose all the money in my account.

Fact: As the owner of a College Savings Iowa account, you will never lose the money you’ve invested and grown. If your child doesn’t want to pursue college, you can use it to pay for community college, vocational school or other eligible postsecondary education programs. You can also transfer money or change the beneficiary of your account to a sibling or other qualifying family member who does plan on attending. Funds from your College Savings Iowa account could also be used to pay for your own continuing education, and you can hold on to the funds in your account for a future child or grandchild.

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