Most expenses related to a beneficiary’s higher education qualify as an eligible expense, including tuition, books, and some room and board expenses.
Is there a penalty for taking money out for non-qualified purposes?
Unfortunately, yes. Earned funds withdrawn for non-qualified purposes are subject to federal income tax, plus an additional 10% penalty.
Do I have to use my account to pay for an Oregon college or university?
No. You can use your funds to pay for qualified expenses at institutions in the U.S. and in some cases, abroad.
Can I use my Embark account for credentialing expenses?
Yes! As of July 2025, your Embark account can be used for credentialing and continuing education programs. This includes tuition, fees, books, supplies, equipment, and more.