Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Cover Your Child's First Car
In this episode of The College Savings Podcast, Lucas and Luna explore a common but often overlooked question: can you use a 529 plan to buy a car for your college student? They break down the IRS rules on qualified expenses, explain why a vehicle doesn't qualify under federal guidelines, and discuss practical alternatives like using taxable accounts or considering a Roth IRA conversion. They also highlight state-level variations and strategize about how to approach car purchases before your child heads to campus. With specific examples and clear explanations, this episode helps parents…
The skinny
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