Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Cover a Gap Year Before College
In this episode, Lucas and Luna explore the rules and strategies behind using 529 plan funds to cover a gap year before college. They discuss what qualifies as an eligible expense during a gap year, including travel, internships, and volunteer programs, and how the IRS treats these costs. They also cover the impact on financial aid, the importance of keeping the student enrolled part-time to maintain tax advantages, and how to avoid common pitfalls like over-withdrawals. With a focus on the 2026 tax year, they explain the difference between a gap year before enrollment and a gap semester, and…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.