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Reply to "529 plans and withdrawing money "
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[quote=Anonymous][quote=Anonymous]I do things a bit differently than the pp. When my kids enroll in college, I ask them to make me an "authorized payer." That way, I am notified when tuition & fees are billed. Then I have the 529 plan issue a check directly to the educational institution. Also note that the withdrawals from the 529 need to be in the same year as the expenses. For example, I wait until January 1 to pay spring tuition. [/quote] +1. Our plan was to pay about 1/2 of tuition from 529 funds and the other half out of cash flow. So for each semester, I authorized the 529 plan to send a specified amount to the college, and then I set up a monthly payment plan with the college for the remaining balance. [/quote]
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