Summer Sessions & Your Virginia529 Account
School is not always out for summer! For many college students, taking a class or two during a summer session is a great way to focus on specific subjects, and even lighten their course load during the fall.
If your college student is planning to enroll in a summer session, here are some things you need to know before using your Virginia529 account to pay for it.
Paying for a summer session is easy with Invest529!
Simply log in to your online account at Virginia529.com and submit a Withdrawal Request, like you would for the fall or spring semester.
Remember, withdrawals are typically processed within two to three (2-3) business days so allow enough time to meet school payment deadlines.
Each time your Prepaid529 benefits are used toward a summer session, a new Withdrawal Request must be submitted.
Submitting a Withdrawal Request is now an easy and convenient online process. Log in to your online account at Virginia529.com and select Withdraw Funds under the Manage My Accounts tab.
Withdrawal requests are typically processed within two to three (2-3) business days.
- For Virginia public or private schools, Virginia529 will pay funds directly to the school after the school’s add-drop period and upon receipt of an invoice from the school (usually within 30 days).
- For non-Virginia schools, account owners can choose to have the funds paid to themselves, the school or the student for reimbursement of other qualified higher education expenses.
When submitting the request, make sure you’ve allowed for enough time to meet applicable school payment deadlines. Remember, withdrawal requests for a summer session are only valid for that session and do not carry forward into the fall semester.
Before using your Prepaid529 account, be sure to consider the number of credits earned in a summer session. Since the course load may be lighter than a fall or spring semester, you’ll likely use partial benefits for a summer session. This could impact the amount of funds available down the road.