* For beneficiary changes to occur without federal or state income taxes, the new beneficiary must be a family member of the original beneficiary. ** This credit may be subject to recapture from the account owner (not the contributor) in certain circumstances, such as a rollover to another state’s qualified tuition program or a non-qualified withdrawal. Please note that, effective January 1, 2010, the Indiana state income tax credit will no longer apply to rollovers from another state’s qualified tuition program or to transfers from the Upromise service into a CollegeChoice Advisor account. All other contributions will continue to be eligible for the tax credit to the extent previously allowable. *** Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements. + In the event the donor does not survive the five-year period, a pro-rated amount will revert to the donor’s taxable estate. ++ Eligible institutions include all post-secondary institutions that participate in the Federal Financial Aid Program.