Eliminate paper checks and overnight mail from your 529 disbursement process

Today’s consumers expect technology and systems to keep pace with the digital world. Flywire’s 529 Disbursements solution does just that by enabling institutions and students to benefit from a transparent and automated process for 529 disbursement. With real-time tracking and end-to-end visibility, you eliminate the anxiety of waiting for checks to arrive by mail and get processed by school administrators.

Consumers conduct much of their banking and investment transactions online, until it comes time to make an education payment from their 529 savings plan. In these cases, funds typically get sent via the postal service or expensive overnight couriers rather than by direct ACH. With Flywire, you can seamlessly automate your distribution process and allow customers to make electronic disbursements directly to eligible education institutions. By replacing traditional manual paper check and form processing, all parties save time and money.

By securely sending distributions electronically, Flywire helps you eliminate manual paperwork and payments to drive efficiency. This not only expedites education payment transactions, but reduces the risk of exposing customers to fraud. Withdrawals processed by Flywire are automatically sent to institutions via ACH, which results in more efficient posting and reconciliation even during the busiest periods of the academic year.

When 529 plans utilize Flywire’s 529 Disbursement solution, education institutions benefit from faster payment delivery and simplified cash management. With the option to automate the cashiering of 529 disbursements, reconciliation is further streamlined for accountants. These efficiency gains coupled with fewer errors allow administrators to focus on other priority tasks.

Consumers conduct much of their banking and investment transactions online, until it comes time to make a withdrawal from their 529 savings plan. In these cases, funds typically get sent via the postal service or expensive overnight couriers. With Flywire, you can now easily receive your 529 payments digitally, via ACH deposit direct to your institution’s bank. Flywire replaces much of the manual work caused by traditional paper checks and speeds reconciliation, saving time and money for everyone involved.

Today’s consumers expect technology and systems to keep pace with the digital world. Flywire’s 529 Disbursements solution does just that by enabling 529 plan providers to share real-time payment tracking details with account holders. Eliminating the need for students and families to ask “where is my payment?” minimizes inquiries and reduces stress for all parties involved, especially at the start of each term.