Skip to main content

How do I make a withdrawal from Raise Education?

Learn how to withdraw funds from your Raise Education account and what to consider before making a withdrawal.

Jack McCann avatar
Written by Jack McCann
Updated over 3 weeks ago

Withdrawing funds from your Raise Education account is a simple process, but there are important considerations to ensure compliance with 529 plan rules and avoid unnecessary penalties.

Currently, we do not support making withdrawals directly on our site - please contact support by clicking the pink button in the bottom-right corner of your screen to initiate a withdrawal.

Important Considerations

  • Qualified Withdrawals: Funds used for tuition, books, housing, and other eligible education expenses will not be subject to penalties.

  • Non-Qualified Withdrawals: If funds are used for non-education purposes, they may be subject to taxes and penalties. Raise is not responsible for assisting you with any necessary tax filings.

  • Direct-to-School Option: Payments made directly to an educational institution may simplify record-keeping and tax reporting.

  • Changing Beneficiaries: If the intended beneficiary does not use the funds, you can transfer the account to another eligible family member. Please contact us using the pink button in the bottom-right to do this.

Did this answer your question?