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529 plans can be used for many college-associated expenses other than tuition.
There are three major restrictions on 529 plans outlined in Prudential’s Winning the College Savings Race:. You can only change plan investments twice per year. Although you can transfer between ...
Image source: Getty Images. Use those excess college funds to jump-start retirement savings. The president signed the SECURE Act 2.0 into law at the end of 2022.
A 529 plan is a college savings plan that provides tax advantages when used for qualifying purposes. A 529 plan is something like a Roth IRA or 401(k) plan designed for educational savings.
Starting in 2024, unused 529 funds can be rolled into a Roth IRA tax-free, thanks to the SECURE 2.0 Act, giving families more flexibility with college savings.
Retain federal student loan benefits: When you consolidate federal student loans, you can still take advantage of income-driven repayment plans, forgiveness options and repayment hardship plans in ...
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