Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
529 Plans and Student Loan Refinancing Strategies
In this episode, Lucas and Luna explore how 529 plans can be used strategically for student loan refinancing, a topic that many families overlook. They discuss the SECURE Act 2.0 provisions that allow up to $10,000 in penalty-free 529 withdrawals for qualified student loan repayments, including refinanced loans. Lucas explains the nuance of refinancing private loans versus federal loans, noting that refinancing federal loans means losing income-driven repayment options. Luna brings up the case of a listener who used a 529 to refinance her daughter's private law school loans, saving over…
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