Frequently asked questions about Scholars Choice:
You can change the beneficiary on your account to another qualified family member.
You can also use your account balance to pay for qualified expenses not covered by the scholarship, such as room and board, books and required supplies, computers and software and internet access, and more.
Non-qualified withdrawals from Scholars Choice that can be attributed to certain scholarships are not subject to the additional 10% federal tax generally applicable to non-qualified withdrawals. However, the earnings portion of the withdrawal must be reported on federal and state (if applicable) tax returns.