Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Cover Graduate School Costs
Lucas and Luna dive into the specifics of using 529 plans for graduate school expenses, from tuition and fees to room and board and even the graduate school entrance exam. They break down the annual gift tax exclusion rules, the impact on financial aid, and how the SECURE Act expanded eligible expenses. With a focus on practical planning, they discuss strategies for maximizing the benefits and avoiding common pitfalls, like the 10 percent penalty on non-qualified withdrawals. Plus, they touch on the importance of naming the right beneficiary and the flexibility of changing it later. A…
The skinny
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