How Can I Get My Money From My College Bond Fund?
when my grandpa died, he left all us grandchildren $10,000 in a college bound fund account or atleast thats the name of the company Alliance Bernstein. Anyways how do I go about getting my money now that I am 18? and can it only be used towards college even though i am 18 years old and it is my money???
You will likely have to go through the company and make the withdrawal, of course after you have given sufficient identification. You will probably be able to withdrawal it and not use it for college, but if you do that, you will probably have to pay penalties and taxes on it.
get a loan
It is a college bond, and I would think could be used for that purpose, and not a new car or something like that. Perhaps the financial institution issues the check directly to the college. This might be what your grandfather directed.
It depends on the terms of the trust or fund he set up. You need to talk to the trustee (person or agency that manages the accounts).