529 Plan

1. WHAT IS A 529 PLAN?

A 529 Plan is a tax-advantaged savings plan designed to encourage saving for future education costs.  529 Plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.

2. HOW DO I PAY WITH MY 529 PLAN?

529 Plan payments are accepted at the Bursar’s Office in-person or by mail.  Contact your plan provider to discuss any contingencies regarding payment disbursement.  Be sure the 529 Plan also includes your emplid ID number in the reference/memo section of the check.

• In-person: The Bursar's Office is located in the New Building, RM: L.70.  First, obtain a B-ticket from the Jay Express kiosk.  A Bursar representative will then call the ticket number to process the transaction.
   
• Mail to the following address:

                       ATTN: Bursar's Office, RM: L.70 NB
                       John Jay College
                       524 West 59^th Street
                       New York, NY 10019

3. WHO IS THE 529 PLAN MADE PAYABLE TO?

John Jay College

4. HOW IS A 529 PLAN RECORDED?

529 Plans are posted to the student record as “529 Plan Payment.”

5. I HAVE BURSAR HOLDS FOR MY PAST-DUE BALANCE.  CAN I USE A 529 PLAN TO REMOVE IT?

Yes, a valid 529 Plan must be submitted for the intended semester.  Bursar holds are removed immediately for past-due balances that are paid in full with a 529 Plan.