What Qualifies as a Higher Education Expense?

With fall—and the start of a new school year—just around the corner, it's important to know what qualifies as a higher education expense, so you or your college-age child can take withdrawals from 529 plans tax- and penalty-free.

Which of the following is not an example of a qualified higher education expense?

- College tuition

- The cost of a computer to be used at school

- Room and board

- Transportation costs to and from college

Gary Williams, CFP®, CRPC®, AIF® is the President & Founder and Nicholas Ibello, CFP® is a Wealth Manager & Associate Vice President of Williams Asset Management located at 8850 Columbia 100 Parkway, Suite 204, Columbia, MD 21045. They offer securities and advisory services as Investment Adviser Representatives of Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. They can be reached at (410) 740-0220 or at Gary@WilliamsAsset.com or Nick@WilliamsAsset.com

Click here for a free download of the Foreword (written by NFL Legend Ronnie Lott) and Chapter 1 of The Art of Retirement written by Gary Williams, CFP®.

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