NEXT
Compare 529 Plans by Features
Plan
Significant time or age restrictions imposed by the program
None, except the One-Year Time Savings Account option is subject to early withdrawal penalties.
Florida
The beneficiary must be under 21 years of age and in the 11th grade or younger at the time of enrollment. Plan benefits must be used within 10 years after the expected date of college enrollment (not counting time in the military), unless an extension is requested.
The contract must be purchased at least three years before benefits are used to pay for tuition and fees. The beneficiary must begin using contract benefits within 10 years of the projected enrollment date and then has 10 years to use the benefits.
For Indiana taxpayers claiming a state tax credit on contributions, the account must remain open for at least one year to avoid recapture of the tax credit on distributions used to pay qualified education expenses.
For Indiana taxpayers claiming a state tax credit on contributions, the account must remain open for at least one year to avoid recapture of the tax credit on distributions used to pay qualified education expenses.
Louisiana
Refunds requested from the Fixed Earnings fund within 12 months of opening the account will not return any interest.
Michigan
Contract benefits must be used within 15 years after the projected college entrance date.
The beneficiary must be 18 years old or younger at the time of program enrollment. Contract benefits must be used within eight years of the beneficiary's projected college entrance date.
Montana
Qualified withdrawals from this plan within three years of establishing the account are subject to Montana tax at the highest Montana marginal rate to the extent of prior Montana tax deductions, but only after removal of non-deducted contributions.
The beneficiary must be in the 9th grade or below and 18 years old or younger at the time the contract is purchased. The beneficiary has up to ten years from high school graduation or until age 30 to begin using benefits, with extensions granted for military service.
A minimum of 36 months must lapse between the initial purchase date of a Tuition Certificate and its first redemption. A Tuition Certificate must be used by the 30th anniversary of its purchase or it will be cancelled for the refund amount. A refund may be requested only after 12 months have expired since the initial purchase date.
Pennsylvania 529 Guaranteed Savings Plan
Pennsylvania
There is an approximate one-year wait after a contribution is made before tuition inflation growth associated with the contribution can be used to pay for college expenses. A non-qualified withdrawal of less than the entire account can be requested one time per year.
TNStars College Savings 529 Program
Tennessee
Any contribution made to an account must be on the account for 21 days before it can be withdrawn.
The beneficiary may not use the tuition units within three years of the date the units were purchased. Tuition units must be used within ten years after the projected date of high school graduation, excluding any periods of active duty service in the United States Armed Forces.
Utah
None. The requirement that distributions begin by a certain age or date was removed in 2008.
Virginia
The account must be used within 30 years after the beneficiary graduates from high school or within 30 years after opening the account, whichever is later.
Virginia
The account must be used within thirty years after the projected date of high school graduation, or within thirty years after account is opened if the beneficiary has already graduated from high school, unless an extension is granted by the program.
A Tuition Track Portfolio Account must be depleted by the tenth anniversary of the beneficiary's expected usage date.
Guaranteed Education Tuition (GET)
Washington
Units must be used within 10 years after the beneficiary's projected college entrance year or the first use of units, whichever is later.