Comments on: 529 Education Savings Plan http://blog.studentloannetwork.com/2008/05/16/529-education-savings-plan/ News, updates and commentary on student loans Fri, 20 Nov 2009 21:11:29 -0500 http://wordpress.org/?v=abc hourly 1 By: 529 College Savings Plan – Part II | Student Loan Help http://blog.studentloannetwork.com/2008/05/16/529-education-savings-plan/comment-page-1/#comment-7675 529 College Savings Plan – Part II | Student Loan Help Tue, 22 Sep 2009 19:30:15 +0000 http://www.studentloannetwork.com/student-loan-help/2008/05/16/529-education-savings-plan/#comment-7675 [...] pretty much just gave a snapshot overview of what a 529 plan was , but I’m going to get down to the nuts and bolts of it for you [...] [...] pretty much just gave a snapshot overview of what a 529 plan was , but I’m going to get down to the nuts and bolts of it for you [...]

]]> By: David Bonvie http://blog.studentloannetwork.com/2008/05/16/529-education-savings-plan/comment-page-1/#comment-4080 David Bonvie Fri, 23 Jan 2009 14:07:55 +0000 http://www.studentloannetwork.com/student-loan-help/2008/05/16/529-education-savings-plan/#comment-4080 529 funds are designed to go directly to the University. Qualified withdrawals are those used to pay for the "qualified higher education expenses" of the student-beneficiary. To be considered a qualified withdrawal, the institution at which the student is enrolled must qualify as an "eligible educational institution," and the expenses the funds are being used for meet the Internal Revenue Service (IRS) criteria as "qualified higher education expenses." Assuming the school was a qualified one I would check with your 529 Plan provider to see if they charge any penalties for withdrawals that are not going directly to the school. 529 funds are designed to go directly to the University. Qualified withdrawals are those used to pay for the “qualified higher education expenses” of the student-beneficiary. To be considered a qualified withdrawal, the institution at which the student is enrolled must qualify as an “eligible educational institution,” and the expenses the funds are being used for meet the Internal Revenue Service (IRS) criteria as “qualified higher education expenses.”

Assuming the school was a qualified one I would check with your 529 Plan provider to see if they charge any penalties for withdrawals that are not going directly to the school.

]]> By: Pat http://blog.studentloannetwork.com/2008/05/16/529-education-savings-plan/comment-page-1/#comment-4061 Pat Thu, 08 Jan 2009 17:30:40 +0000 http://www.studentloannetwork.com/student-loan-help/2008/05/16/529-education-savings-plan/#comment-4061 Can any student loans, including private student loans, be paid back with funds from 529 accounts? Our 529 has lost so much recently that we would like to wait until it comes back before withdrawing funds. Can any student loans, including private student loans, be paid back with funds from 529 accounts? Our 529 has lost so much recently that we would like to wait until it comes back before withdrawing funds.

]]> By: Karleen http://blog.studentloannetwork.com/2008/05/16/529-education-savings-plan/comment-page-1/#comment-3181 Karleen Thu, 05 Jun 2008 13:04:35 +0000 http://www.studentloannetwork.com/student-loan-help/2008/05/16/529-education-savings-plan/#comment-3181 I started a 529 account for my daughter just a few years ago...she is headed to college this fall. Would you suggest keeping the money in the account over the next few years, then use to help pay off some of the student loans, or put towards initial costs now. Just a small amount of $2000 is in the accout now, her college costs are clse to 40k per year...she has some scholarships that have brought it down to about 10k per year. Any suggestions would be greatly appreciated. I started a 529 account for my daughter just a few years ago…she is headed to college this fall. Would you suggest keeping the money in the account over the next few years, then use to help pay off some of the student loans, or put towards initial costs now. Just a small amount of $2000 is in the accout now, her college costs are clse to 40k per year…she has some scholarships that have brought it down to about 10k per year. Any suggestions would be greatly appreciated.

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