529 Plan Losses Hardship Letter

Dear {university accounts department}:

I am writing to request grace and flexibility in the payment of {tuition/room and board/etc.} due to an extreme decrease in the balance of my 529 Plan.

Although my parents had set the investments to become less risky as I neared high school graduation, the bond market has been hit almost as hard as the stock market. Instead of {amount} being available to me, there is now {amount}.

My parents and I are scrambling to cash-flow my education as much as possible. I’ve increased my hours at my job and {other steps}. Even so, paying the amount due by the deadline would create an extreme hardship because I {would have to cash out retirement/need cash to pay bills/etc.}

Given these unforeseen circumstances, I would like to request {payment plan/later deadline/adjustment to financial aid/time to seek student loans/etc.}.

Thank you for your consideration.

Sincerely,

{Name}