Important information before you submit your 529 College Saving Plan Proof of Initiation of Payment Letter:
Many states and financial services institutions offer 529 savings programs for families to save money for a child’s college education. Each program has separate rules and regulations governing how funds may be used and how to have monies sent to Pace University. Always check with your provider about how and when to request the release of funds, as well as what documents, such as an electronic copy of the student’s bill, are needed.
If you participate in either the Guaranteed Savings Plan or Investment Plan programs, you must first contact the program to request that a payment be issued. You should always provide a copy of your tuition bill when making your request.
Please note that payments from your program accounts may take up to ten (10) business days after the program approves your request before the funds are issued to and received by Pace University.
Once we are in receipt of your proof of payment initiation, your account and bill will be conditionally credited for the amount guaranteed by your 529 College Savings plan payment.