Latest / The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs
How 529 Plans Cover Your Childs Dorm Room and Housing
When you think 529 plans, tuition usually comes to mind. But did you know you can use your 529 savings to pay for your child's dorm room, off-campus apartment, or even a fraternity house? In this episode, Lucas and Luna break down the IRS rules for qualified room and board expenses, the difference between on-campus and off-campus limits, and the tricky paperwork required if your child lives off campus. They walk through a real example: a family with a student at a public university spending $12,000 on off-campus rent and $4,000 on a meal plan, and how to ensure every dollar is…
The skinny
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