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16 wrz 2024 · You can use a 529 plan to repay up to $10,000 in student loans - but there are some caveats you need to know.
5 wrz 2023 · If you have high-interest private student loans, federal parent loans or graduate school loans, using 529 funds to repay your loans can save more money. 529 accounts are flexible.
A new law allows borrowers to use 529 college savings plans to pay off student loan debt.
11 wrz 2024 · No. Under the new provision, up to $10,000 of the 529 plan may be used to pay off student loans borrowed by the beneficiary and their siblings, without changing the beneficiary name.
3 dni temu · The SECURE Act allows account holders to use a lifetime limit of $10,000 per beneficiary to pay down student loans tax-free from their 529 plan — both federal student loans and most private ones ...
In 2024, annual contributions to each 529 account of up to $18,000, or $36,000 for couples filing jointly, are treated as gifts and qualify for the annual per-beneficiary gift tax exclusion. 4 Additionally, 529 Plans employ a special rule: an upfront contribution in one year of up to $90,000 for single filers, or $180,000 for married couples ...
26 lis 2023 · There are three main options for paying the distribution: To the account owner; To the beneficiary; Directly to the college or other eligible educational institution; A few plans will let you make a payment to a third party, such as a landlord of an off-campus apartment.
