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.