Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
Using 529 Plans for Graduate School Entrance Exam Costs
Did you know your 529 plan can cover GRE, GMAT, MCAT, and LSAT prep courses and exam fees? In this episode, Lucas and Luna break down the specific IRS rules that allow these expenses if your child is enrolled at least half-time. They discuss the difference between prep materials from an eligible institution versus third-party providers, the $10,000 lifetime limit for loan repayment that can also apply to exam costs in some cases, and a real example of a student saving over $1,500 on exam prep using a 529 plan. Plus, a listener question about whether study abroad exam fees qualify. Whether…
The skinny
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