What can you spend a 529 on?
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Anonymous
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I have 13 MO DC and was considering a 529. One thing that makes me nervous is the "use it or lose it" thing -- DH and I both have college tuition benefits as part of our job so there is a good chance we will not need to pay that. So what does that mean?
And what can I spent a 529 on besides college? Is private K-12 ok? Nursery school? Enrichment programs or camps? And can I spend 529 funds on college expenses like room and board, books, fees, etc? |
Anonymous
| It's not use it or lose it. It's use it, or give (or sell) it to a relative, or pay a fee to withdraw the money without using it, or demonstrate that you got a scholarship for the amount and withdraw it without a fee. |
Anonymous
| I live in Ohio so I'm not sure it's the same, but I can use mine for cost of living while going to school along with tuition. Right now I'm in my last year of school and my DH and I are using it on house payments just to use it all up tax free. |