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    Home / College Guide / Re: 529 question
     Posted on Monday, April 01 @ 00:00:04 PDT
    College

    Hi friends, Would it make sense to have my kid take out student loans to cover college tuition for 4 years to earn a 4yr degree while letting her 529 continues to grow conservatively for those 4yrs while she’s in college? then once graduated, use that 529 and empty it on the student loan balance? The student loans do not earn interest until graduation. [529 question](./viewtopic.php?t=428628&sid=16a6fd4a25175de324183a500ee33b9c) Have a question about your personal investments? No matter how simple or complex, you can ask it here. [Post Reply](./posting.php?mode=reply&t=428628&sid=16a6fd4a25175de324183a500ee33b9c) 5 posts • Page 1 of 1 - [Jamthony19974](./memberlist.php?mode=viewprofile&u=200857&sid=16a6fd4a25175de324183a500ee33b9c) - Posts: [15](./search.php?author_id=200857&sr=posts&sid=16a6fd4a25175de324183a500ee33b9c) - Joined: Thu Feb 08, 2024 8:28 am - [wandering_aimlessly](./memberlist.php?mode=viewprofile&u=121093&sid=16a6fd4a25175de324183a500ee33b9c) - Posts: [93](./search.php?author_id=121093&sr=posts&sid=16a6fd4a25175de324183a500ee33b9c) - Joined: Mon May 15, 2017 2:36 pm [Re: 529 question](./viewtopic.php?p=7797913&sid=16a6fd4a25175de324183a500ee33b9c#p7797913) Timing of 529 withdrawals matters.

    They must be in the same calendar (not just academic) year as the expense. I dont believe paying the loan off would be considered the expense (though someone can correct me on that if they have heard differently.) [Re: 529 question](./viewtopic.php?p=7797919&sid=16a6fd4a25175de324183a500ee33b9c#p7797919) Looks there is a limit of $10k lifetime maximum withdrawal PER BENEFICIARY from all 529 plans that can be used to repay student loans. https://thecollegeinvestor.com/39468/52 ... repayment/ Last edited by [lakpr](./memberlist.php?mode=viewprofile&u=25251&sid=16a6fd4a25175de324183a500ee33b9c)on Sun Mar 31, 2024 8:46 pm, edited 1 time in total. [Re: 529 question](./viewtopic.php?p=7797922&sid=16a6fd4a25175de324183a500ee33b9c#p7797922) SECURE Act 1.0 allowed repayment of student loans as a qualified expense. See the link in my immediately previous post. [wandering_aimlessly]wrote: [?]Sun Mar 31, 2024 8:41 pm I dont believe paying the loan off would be considered the expense (though someone can correct me on that if they have heard differently.) - [snowday2022](./memberlist.php?mode=viewprofile&u=182332&sid=16a6fd4a25175de324183a500ee33b9c) - Posts: [728](./search.php?author_id=182332&sr=posts&sid=16a6fd4a25175de324183a500ee33b9c) - Joined: Sun Jan 16, 2022 1:48 pm [Re: 529 question](.

    /viewtopic.php?p=7797936&sid=16a6fd4a25175de324183a500ee33b9c#p7797936) This is a myth debunked in old posts. Although it makes sense, it is simply not true. [wandering_aimlessly]wrote: [?]Sun Mar 31, 2024 8:41 pm Timing of 529 withdrawals matters. They must be in the same calendar (not just academic) year as the expense. I dont believe paying the loan off would be considered the expense (though someone can correct me on that if they have heard differently.) [Post Reply](./posting.php?mode=reply&t=428628&sid=16a6fd4a25175de324183a500ee33b9c) 5 posts • Page 1 of 1

     
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