What if my Beneficiary receives a scholarship and doesn need all the money in the Account to pay for college?
No problem! You won’t lose access to your money. Simply request a Withdrawal from the Account in an amount equal to the scholarship or tuition waiver. The earnings portion of such withdrawals will be subject to federal and state income taxes. If a Withdrawal for a scholarship is requested from the Protected Stock Fund, a 5% surrender charge will apply.
