529 Plans often impose long hold periods for new account links, which may not align with your tuition payment deadlines. If you need to make a payment before the hold period is over and your Backpack account is fully linked, here are some alternative options to ensure your tuition is paid on time.
1. Withdraw 529 Funds to Your Personal Bank Account
If your 529 plan has an existing bank account on file, you can withdraw funds directly to it. This is often the case for 529 Account owners who have made contributions to their 529 from their personal bank account.
How to Use This Option:
Log in to your 529 plan’s portal.
Request a withdrawal to the bank account already linked to your 529 plan.
Once the funds are in your bank, contact our support team (you can use the blue chat bubble in the bottom right corner) and we’ll help collect your bank details to securely complete the payment.
2. Request an Expedited Check from Your 529 Provider
Some 529 providers allow for checks to be sent directly to the university or a third party. There is usually a fee associated with an expedited delivery, which can range from $10 - $35. This option can be faster than waiting for the hold period on a new account link.
How to Use This Option:
Log in to your 529 plan’s portal.
Select the option to send a check payment.
When asked for an address, enter the below details for where to send the check:
[Your University's Name]
169 Madison Ave #2477
New York, NY 10016
What Happens Next?
Once your Backpack account is fully verified and linked to your 529 plan, future payments will be faster and more seamless. For now, these temporary solutions will help ensure your tuition is paid on time.
If you need further help or have questions, don’t hesitate to contact support.