Edvest College Savings Plan, How To Login, Open an Account

ByCynthia Measom Posted on Updated on Tutorials

Edvest College Savings Plan is designed to help families save for higher education expenses. Edvest is administered by the state of Wisconsin and managed by TIAA-CREF Tuition Financing, Inc. (TFI). The Edvest College Savings Plan is a state-sponsored, tax-advantaged 529 college savings plan that’s helping families and individuals plan for the cost of higher education. It’s available to any citizen or tax payer. And just about anyone can help contribute including Grandparents, other family members and friends.

Is Edvest College Savings Plan guaranteed?

Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss. The Edvest College Savings Plan is offered by the State of Wisconsin. TIAA-CREF Tuition Financing, Inc. (TFI), program manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for Edvest.

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‎Frequently Asked Questions

1: I forgot my password? If you have forgotten your password, please tell us your user name and registered e-mail address here.

2: How do I change my password? To change your password, log in here, choose a beneficiary and select “Profile and Documents, “then “Password & Security Features” from the left hand navigation.

3: I forgot both my username and password? If you have forgotten both your Username and password, first retrieve your Username by clicking here. Once you have received your Username, log in, and you can log in with a temporary password.

4: How do I unlock my account? If your account has been locked, please contact the Plan at 1-888-338-3789 from 7:00 AM to 9:00 PM CT Monday to Friday, excluding holidays. Thry can assist you with unlocking your account.

5: How do I sign up for e-Delivery? To sign up for e-delivery, log in here, click “View Details” for a beneficiary and select “Profile & Documents,” then “Delivery Preferences” from the left hand navigation.

6: What is Two Factor Authentication, and what are Aggregators? For information, please click here.

7: How do I withdraw money to pay for college? You may request a withdrawal via your account online. Select the beneficiary you would like to withdraw the money for, click “Make a Withdrawal” on the left hand navigation and follow the directions. Alternatively, you may request a withdrawal by using the Withdrawal Request Form.

8: What is the status of my withdrawal? To view your transaction history, log in to your account or contact the Plan at 1-888-338-3789, Monday through Friday, 7:00 AM to 9:00 PM CT.

9: What is a taxable withdrawal? A taxable withdrawal will be subject to applicable state and federal income tax on earnings, if any, but will not be subject to the 10% additional federal tax on earnings (the “Additional Tax”). Examples of taxable withdrawals are: a beneficiary’s death, permanent disability, receipt of a scholarship withdrawal, or attendance at a military academy.

10: What are qualified higher education expenses? Qualified higher education expenses are defined generally to include certain room and board expenses, the cost of computers, hardware, certain software, and internet access and related services, and tuition, fees, the cost of books, supplies and equipment required for the enrollment or attendance of a Beneficiary at an Eligible Educational Institution as well as certain additional enrollment and attendance costs of Beneficiaries with special needs. To be treated as Qualified Higher Education Expenses, computers, hardware, software, and internet access and related services must be used primarily by the Beneficiary while enrolled at an Eligible Educational Institution. Qualified Higher Education Expenses do not include expenses for computer software designed for sports, games, or hobbies unless the software is predominantly educational in nature.

For federal income tax purposes, Qualified Higher Education Expenses also includes (i) tuition in connection with enrollment or attendance at a primary or secondary public, private, or religious school, up to a maximum of $10,000 of distributions for such tuition expenses per taxable year per Beneficiary from all Section 529 Programs; (ii) expenses for fees, books, supplies, and equipment required for the participation of a Beneficiary in an certified apprenticeship program; and (iii) amounts paid as principal or interest on any qualified education loan of either the Beneficiary, or a sibling of the Beneficiary up to a lifetime limit of $10,000 per individual.

11: What room and board expenses are covered? The cost of room and board may be treated as Qualified Higher Education Expenses only if it is incurred during an academic period during which the beneficiary is enrolled or accepted for enrollment in a degree, certificate or other program that leads to a recognized educational credential awarded by an Eligible Educational Institution, and during which the beneficiary is enrolled at least half-time. (Half-time is defined as half of a full-time academic workload for the course of study the beneficiary is pursuing based on the standard at the beneficiary’s Eligible Educational Institution.)

The amount of room and board expenses that may be treated as a Qualified Higher Education Expense is generally limited to the room and board allowance applicable to a student that is included by the Eligible Educational Institution in its “cost of attendance” for purposes of determining eligibility for federal education assistance for that year. For students living in housing owned or operated by the Eligible Educational Institution, if the actual invoice amount charged by the Eligible Educational Institution for room and board is higher than the “cost of attendance” figure, then the actual invoice amount may be treated as qualified room and board costs.

12: Are computers, tablets and associated costs considered qualified higher education expenses? To be treated as Qualified Higher Education Expenses, computers, hardware, software, and internet access and related services must be used primarily by the Beneficiary while enrolled at an Eligible Educational Institution. Qualified Higher Education Expenses do not include expenses for computer software designed for sports, games, or hobbies unless the software is predominantly educational in nature.

13: Is paying off a student loan considered a qualified higher education expense? Federal tax treatment of 529 plan qualified higher education expenses or QHEEs includes the repayment of up to $10,000 (including principal and interest) on any qualified education loan of either a 529 plan designated beneficiary or a sibling of the designated beneficiary. To be a qualified expense, the loan repayment amount for an individual is subject to a lifetime limit of $10,000.

Please see the state tax treatment of withdrawals used toward student loan repayment here.

14: What is a non-qualified withdrawal? A non-qualified withdrawal is any withdrawal that does not meet the requirements of being: (1) a qualified withdrawal; (2) a taxable withdrawal; or (3) a rollover. The earnings portion of a non-qualified withdrawal is subject to state and federal income taxation, and the 10% additional federal tax on earnings (the “Additional Tax”).

15: Under what circumstances are taxable withdrawals not subject to the 10% additional federal tax on earnings? A taxable withdrawal that is not subject to the 10% additional federal tax on earnings (the “Additional Tax”) is a withdrawal from your account that is:

(1) paid to a beneficiary of, or the estate of, the Beneficiary on or after the beneficiary’s death;

(2) attributable to the permanent disability of the beneficiary;

(3) made on account of the receipt by the Beneficiary of a scholarship award or veterans’ or other nontaxable educational assistance (other than gifts or inheritances), but only to the extent of such scholarship or assistance;

(4) made on account of the beneficiary’s attendance at a military academy, but only to the extent of the costs of education attributable to such attendance; or

(5) equal to the amount of the beneficiary’s relevant Qualified Higher Education Expenses that are taken into account in determining the beneficiary’s American Opportunity Credit or Lifetime Learning Credit. The earnings portion of a taxable withdrawal is subject to federal income tax but not to the Additional Tax.

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