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College and University Discussion
Reply to "Can you use a 529 to pay for on campus parking pass"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]DH wants to buy or long term lease a place while kid(s) go to college. Say the monthly payment is $5,000 per month. Can we just look at the max the school charges for a room (and meal plan) and withdraw those max amount from the kid's 529? [/quote] You can withdraw up to the college's official cost of attendance (COA) for room and board for that year. https://www.savingforcollege.com/article/using-your-529-plan-to-pay-for-room-and-board[/quote] I don't understand that. What exactly is "cost of attendance"? I've only seen estimates on college websites, with lots of asterisks. [/quote] They all put a price on annual attendance. It is on their website, and your statement of financial awards /family contribution/loans usually adds up to that bottom line. [/quote]
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