529 Disbursements
Streamline the 529 disbursement process by enabling digital payments directly to your institution
More and more students and families are utilizing tax-advantaged programs like 529 college savings plans to help minimize or eliminate reliance on student loans, enabling families to be better prepared financially. But when it comes time to paying tuition and fees with 529 plan dollars, the disbursement process is time-consuming and inefficient. Institutions face an overwhelming number of paper checks that require manual reconciliation, and students and families are often left wondering if their check ever made it to their institution.
Flywire is proud to offer a digital 529 disbursement solution that enables institutions to eliminate paper checks, speed delivery, improve accuracy and increase payment security. Flywire invites all eligible institutions to activate digital ACH delivery at no charge.
Ridiculously amazing. This disbursement solution will continue to be a game changer for not only ours, but our student/parent payment processing needs.
Flywire 529 customer
Flywire all-time 529 volume
529 savings plans connected (more coming soon!)
Institutions connected
Checks eliminated
Delivered to schools
Benefits of digital 529 delivery
We asked 100+ bursars using Flywire to receive digital 529 plan disbursements, how their institutions and students benefit:
Faster payment processing
Better experience for students/families
Time savings for staff
Improved accuracy & reconciliation
Reduction in customer service issues
Funds available sooner for institution spend
Without digital delivery, schools struggle with:
Delayed payments
Time consuming payment processing
What institutions like about Flywire for 529 disbursements
It used to take up to 10 days to get a check from a 529 provider and another day to get it onto a student account. Now, it takes as little as two days.
UNIVERSITY OF MICHIGAN
We went live with this solution a year ago and have already transacted over 400 payments. It has been a better customer experience overall for the payer. It's faster and we have a better way to track the payment process.
TUFTS UNIVERSITY
SPOTLIGHT ON
Delivered
Checks eliminated
Staff hours saved & counting*
This solution definitely meets the needs and expectations of our students and families. Once the 529 plan distribution request is made, the student sees the credit on their account usually within 72 hours. PURDUE UNIVERSITY
Today more than 710 institutions rely on Flywire for the digital delivery of 529 disbursements. What’s holding you back from joining them?
Contact your Relationship Manager, or email us 529disbursements@flywire.com to get started!
