BB&T CollegeWealth 529 Savings

It's never too early to start saving for college. BB&T CollegeWealth® 529 Savings is the smart, easy way to save.

  • FDIC–insured savings
  • Tax–free qualified withdrawals1 and earnings
  • Open an account in any state

Benefits

CollegeWealth 529 Savings combines flexible features and tax advantages in a safe, FDIC–insured savings account.

  • No restrictions—account can be opened for a relative, friend or yourself
  • One beneficiary per account
  • Tax deductions available in some states2
  • Earnings grow free of federal taxes
  • Tax-free withdrawals when used for qualifing education expenses


Interest Rate

TierRateAPY3
$0 - $9,9991.98%2.00%
$10,000 - $24,9991.98%2.00%
$25,000 - $99,999,999,9992.23%2.25%

Eligibility

Anyone (over the age of 18) can open a CollegeWealth 529 Savings account. There are no state residency requirements, and funds can be used at any accredited school eligible to accept federal financial aid including:

  • Colleges and universities
  • Graduate schools
  • Community colleges
  • Vocational and technical schools
  • Select private career, technical and international schools
  • To see if your school is eligible, visit www.fafsa.ed.gov.

Contributions

BB&T makes it easy to contribute to your CollegeWealth 529 Savings account.

  • No minimum amount
  • No annual limit
  • $350,000 aggregate value per beneficiary4
  • Direct deposit available for systematic contributions
  • Transfer money from BB&T accounts using BB&T OnLine®
  • Deposit funds at over 1,800 BB&T financial centers


Contact Virginia College Savings Plan at 888-567-0540 for withdrawals. A Student Verification form is required. Qualified education expenses including tuition, textbooks, and certain room and board for students enrolled at least half-time are free from federal taxes.

Access 24/7

CollegeWealth 529 Savings clients are automatically enrolled in BB&T OnLine®—our convenient online banking program. Using BB&T OnLine, you can:

  • Access your account statements.
  • Transfer money or establish automatic payments to your CollegeWealth 529 Savings account.
  • Set up account alerts for fast and easy monitoring.

You can also access your account by visiting any BB&T financial center, or phone us at 800-BANK-BBT (800-226-5228).

For withdrawals and other CollegeWealth 529 account questions, contact Virginia College Savings Plan at 888-567-0540.

FAQ

Why is it so important to save for college?

What is a Section 529 Plan?

How does a BB&T CollegeWealth 529 Savings account differ from other 529 plans?

What are the FDIC Insurance limits?

What are the tax advantages of a BB&T CollegeWealth 529 Savings account?

Who is Virginia College Savings Plan?

Who can be a beneficiary of a BB&T CollegeWealth 529 Savings account?

Who can open a BB&T CollegeWealth 529 Savings account?

Can I open a joint account?

How can I contribute to my BB&T CollegeWealth 529 Savings account?

Can I transfer funds into my BB&T CollegeWealth 529 Savings account?

How much can I contribute to my account?

Can I rollover an existing account into my BB&T CollegeWealth 529 Savings account?

How do I know if a school is eligible?

How do I make withdrawals from my BB&T CollegeWealth 529 Savings account?

What are "qualified" higher education expenses?

Will my CollegeWealth 529 Savings account impact my beneficiary's ability to receive financial aid?

How long can my BB&T CollegeWealth 529 Savings account remain open?

What happens if I die before my beneficiary uses the account benefits?

How do I designate a successor owner?

Can I change my beneficiary after the account is open?

Are there any fees associated with a BB&T CollegeWealth 529 Savings account?

How much money do I need to open a BB&T CollegeWealth 529 Savings account?

How do I access my BB&T CollegeWealth 529 Savings information?

Who will provide me with tax reporting forms?

How do I change my name, address or other account information?

Open an Account

Online

Ready to begin? Get started now.

By Phone

Call us at 800-BANK-BBT (800-226-5228), option 4.

Contact Us

Send us an email

or call 800-BANK-BBT

(800-226-5228).

Locations

FIND
More search options