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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 Morris
205 Behmler Hall
600 E 4th Street
Morris, MN 56267

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 the UMM Business Office at (320) 589-6004.

Important Dates

Billing & Payment

Fri, Nov 30, 2018 Fourth fall billing statement available (due date: 12/14/18)
Fri, Dec 14, 2018 Fourth fall bill due
Sun, Dec 30, 2018 Fifth fall billing statement available (due date: 1/13/19)