Where can Section 529 college savings plan withdrawals be used?
Withdrawals from 529 savings plans can be used to pay for qualified higher education expenses at any college, university, vocational school, or other accredited postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. This includes virtually all accredited public, nonprofit, and privately owned profit-making postsecondary institutions. Ø Requesting a withdrawal – procedure varies by plan: To withdraw money (take a distribution), the participant typically phones or makes a request via on-line form. Funds can be to sent to the participant, the beneficiary, or to the beneficiary’s college.* It is recommended the participant retains records of payments for use in income tax returns. Beneficiary = student. Saver/Participant = the 529 account holder I hope this helps as you evaluate the different options and what is right for your family. Intel also works with CNET three times a year to review the most common PC’s ava
