What is considered a qualified education expense?
You can withdraw earnings tax-free and without penalty for qualified education expenses. These include tuition, fees, books, supplies, and equipment required for the education of the designated beneficiary at an eligible educational institution. If the student is half-time or greater, room and board is considered a qualified education expense. Note: Depending on the investment option chosen, Union Bank early-withdrawal penalties or compensating fees may apply if funds are withdrawn prior to the maturity date.
