What is the 529 Eligibility Guarantee?
The 529 Eligibility Guarantee (the “Guarantee”) is how we back up the promise to you that what we have said is eligible, is eligible. We know the anxiety that comes with trying to figure out what may be eligible, and that sinking feeling that the IRS is going to come knocking. This is our way of taking that stress away. Yes you can think of us as your 529 therapist if you’d like.
This Guarantee gives you following great benefits:
All Qualified Purchases will be covered by the Guarantee automatically.
What is a Qualified Purchase?
A Qualified Purchase is a purchase of a 529 eligible product or service, made by you, that satisfy the following:
For now, only purchases made on Amazon via links directly on the 529store.com website are qualified. We are constantly working to onboard new merchant partners so lookout for this to change soon!
Why aren’t all purchases covered if I use a payment method that isn’t a Backpack account?
We would love to be able to provide blanket guarantees on all the products we market. However, the IRS has created complicated eligibility criteria that means a product or service’s eligibility status is dependent on the unique situation of you and/or your designated beneficiary on your 529 account.
Put simply, we need to know a little more about you to be able to guarantee the eligibility of certain products and services. Opening a Backpack account lets us do that!
Is there any other way to have my purchases covered by the 529 Eligibility Guarantee?
Yes! We have created a solution that provides coverage without having to make purchases using a Backpack account. Read more about our 529 Purchase Protection service on the Backpack website.
Backpack is the first all-in-one tool to help you maximize the use of your 529 college savings accounts. We are your partner in providing the best for your student by helping you discover more of what 529 can be used for, with less stress and burden than ever before.
Join our exclusive waitlist and get early access to pay using your 529 funds and a Backpack account.
Read more about how to pay using your Backpack account on Amazon here.