Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
Using 529 Plans for Student Loan Repayment
Episode 135 of The College Savings Podcast dives into a lesser-known but powerful provision from the SECURE 2.0 Act: using 529 plan funds to pay down your child's student loans. Lucas and Luna break down the $10,000 lifetime limit per beneficiary, what types of loans qualify, tax implications, and how this strategy fits into a broader college savings plan. They also discuss coordination with student loan interest deductions and caution against overfunding. Real example: if your child has $30,000 in federal loans, you can withdraw up to $10,000 tax-free from their 529 to reduce principal…
The skinny
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