Using Learning Quest

Last updated: March 29, 2016

How To Use Learning Quest

How Do I Open a Learning Quest Account?

There are two easy ways to open an account:

  1. Individual investors: It's easy to enroll either online or by mail.

  2. Investors using advisers: Enroll through your financial adviser.

How May the Account Be Used?

You may use your Learning Quest account for a student's qualified education expenses. This could be at any accredited post-secondary institution, generally anywhere in the U.S. 

If you use the money for any other reason, you may be subject to a 10% federal penalty tax.
  • Kansas taxpayers will owe Kansas state taxes on the money earned on the account as well. If you deducted a contribution from your Kansas tax return, you will owe it back.

How Will I Know if a School Is Qualified?

Federal law sets the standards for qualifying as an accredited post-secondary institution. An institution must do 2 things:

  1. Offer credit toward either

    • An undergraduate degree

    • A graduate degree, or

    • Some other recognized post-secondary education credential

  2. Must be eligible to take part in federal student aid programs.

You can determine if a school is accredited by contacting the school's office of admissions. You also can check on a school's eligibility to take part in federal financial aid programs on the Department of Education's website.

What Qualifies as a Higher Education Expense?

At any qualified educational institution in the U.S., eligible expenses include:

  • Tuition

  • Fees

  • Books

  • Required supplies and equipment, and

  • Room and board

Does My Beneficiary Have to Attend College in Kansas?

No. Your beneficiary can use the assets at any accredited post-secondary institution, generally anywhere in the U.S.

What if My Beneficiary Does Not Go to College Immediately After High School?

It is not required that your student attend college immediately after graduating high school.

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