Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Cover Off-Campus Housing Deposits
In this episode of The College Savings Podcast, Lucas and Luna dive deep into using 529 plans for off-campus housing, specifically the often-overlooked cost of security deposits and first month's rent. They break down the IRS rules that allow 529 funds to cover off-campus housing, the nuances of what counts as a qualified expense, and the tricky part: how to document the student's enrollment status for the academic year. They also share a real-world example of a family in Ohio who used their 529 to cover a $2,400 deposit and first month's rent, and the paperwork that made it…
The skinny
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