How to Use Your Account
CollegeAmerica is only available through your financial professional. If you do not have a financial professional, please call us at (800) 421-4225 for assistance with locating one in your area.
Once your account is set up, you may purchase shares through your financial professional or through several other methods.
If you have an account and are already enrolled in FundsLink, you can log in and buy shares online.
Whether you want to update your CollegeAmerica investment allocations or your beneficiary designation, you can make changes yourself or through your financial professional.
You may reallocate your CollegeAmerica investment twice per calendar year and whenever there’s a change to the beneficiary of the account.
You may change the beneficiary of the CollegeAmerica account at any time. To avoid tax treatment of the change as a withdrawal, the new beneficiary must be a member of the family of the previous beneficiary.
Generally, UGMA/UTMA custodians may not change the beneficiary of a custodial CollegeAmerica account. Custodians wishing to change beneficiaries should seek legal advice as funds held in UGMA/UTMA accounts represent an irrevocable gift to a specific individual. View our FAQ page to learn more about changing beneficiaries.
Make changes to your CollegeAmerica account, including beneficiary and owner.
When it’s time to withdraw the money you’ve worked hard to save since you opened your CollegeAmerica account, you can redeem shares in several ways:
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries.
Depending on your state of residence, there may be an in-state plan that offers tax and other benefits not available through CollegeAmerica. Before investing in any state's 529 plan, investors should consult a tax advisor.
If withdrawals from 529 plans are used for purposes other than higher education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.