Anonymous
01/12/2024 15:33
Subject: Re:When off campus housing costs more than the university's estimate - 529 question
Anonymous wrote:CPA here - You cannot get around it. What you can do if you're still contributing to the 529 or cash flowing some of the current expenses is to divert current contributions in to a high interest savings account and use that for the overage.
+1. We just paid it. But DS reduced food costs (dorm) by cooking for himself. And no car, so no related expenses. And group housed with three other men
Anonymous
01/10/2024 19:47
Subject: When off campus housing costs more than the university's estimate - 529 question
Anonymous wrote:Anonymous wrote:It matters because someone should ask the school to revise their housing estimates!
Except it’s not an estimate. It’s the actual cost of on campus room and board. Schools aren’t going to start charging on Campus students more just so off campus kids can get more rent money out of their 529s.
If you look at UMD's COA - it does say it's an estimate. https://financialaid.umd.edu/resources-policies/cost-attendance. They provide both on campus and off campus estimates. The actual cost will show up on the students account.