The College Savings Podcast with Fexingo: 529 Plans, Education Funding, and Student Costs

Nearly a third of 529 plan beneficiaries change their plans. Lucas and Luna walk through your options if your child decides against college: changing the beneficiary to another family member, rolling funds into a Roth IRA, withdrawing penalty-free for scholarships, or taking a non-qualified withdrawal. They cover the IRS family rules, the 35k Roth limit, and what happens when a beneficiary chooses trade school over a four-year degree. Plus, a real-world example of how one family handled a 50k plan after their daughter joined the military.

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In this episode, Lucas and Luna discuss how 529 plans can be used for community college expenses. They break down the eligibility requirements, including the half-time enrollment rule, and compare costs between community college and four-year universities. Real examples show how families can save thousands by using 529 funds for associate degrees or transfer programs. The conversation also covers tips for coordinating 529 withdrawals with scholarships and tax credits, ensuring you maximize every dollar. Whether you're a parent planning for a child's education or an adult considering a career change, this episode explains the often-overlooked benefits of using 529 plans for community college.

#529Plan #CommunityCollege #CollegeSavings #EducationFunding #Tuition #FinancialAid #AssociateDegree #TransferStudents #StudentLoans #TaxBenefits #FexingoBusiness #BusinessPodcast #Finance #PersonalFinance #HigherEducation #CollegeCosts #SavingsTips #529EligibleExpenses

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In this episode of The College Savings Podcast, Lucas and Luna break down the rules for using 529 plan funds to pay for college room and board. They explain the half-time enrollment requirement, the 'cost of attendance' limit, and how off-campus housing qualifies. With average room and board now exceeding $14,000 per year at public universities, this is a critical topic for families. The hosts also share tips on documenting expenses and coordinating with financial aid. Plus, a quick note on listener support that keeps the show ad-free.

#529Plan #CollegeSavings #RoomAndBoard #QualifiedExpenses #CostOfAttendance #HigherEducation #FinancialAid #TaxAdvantaged #StudentHousing #FexingoBusiness #BusinessPodcast #FinancePodcast #PersonalFinance #CollegeFunding #EnrollmentRequirements #DocumentationTips #OffCampusHousing #CollegeCosts

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Many families don't realize that 529 plans can cover study abroad expenses at eligible foreign institutions. Lucas and Luna break down the requirements: the school must participate in the federal student aid program (Title IV), and qualified expenses include tuition, fees, and room and board if the student is enrolled at least half-time. They discuss why airfare is generally not covered, how a through-provider program works, and a caution about Roth IRA rollovers if the funds aren't used. This episode gives you the concrete details to plan a study abroad semester without losing tax advantages. Perfect for parents and students considering international education.

#529Plan #StudyAbroad #CollegeSavings #EducationFunding #ForeignUniversities #TitleIV #QualifiedExpenses #RoomAndBoard #RothRollover #StudentLoans #USStudentsAbroad #FinancialAid #TaxAdvantaged #HigherEducation #InternationalEducation #Finance #FexingoBusiness #BusinessPodcast

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What happens to your 529 plan savings when your child earns a scholarship? In this episode, Lucas and Luna break down the rules: how to withdraw penalty-free up to the scholarship amount, the tax implications on earnings, and strategies for leftover funds. Learn the difference between qualified and non-qualified withdrawals, how timing matters, and why the scholarship exception isn't a free pass. Plus, we cover partial scholarships, beneficiary changes, and the interplay with other financial aid. Real examples help clarify the fine print so you can avoid costly mistakes and make the most of your college savings.

#529Plan #Scholarships #CollegeSavings #EducationFunding #FinancialAid #TaxPenalties #QualifiedWithdrawals #PenaltyFree #MeritScholarships #AcademicScholarships #TaxRules #CollegePlanning #StudentAid #529Withdrawal #CoverdellESA #FexingoBusiness #Finance #BusinessPodcast

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In this episode, Lucas and Luna break down the surprisingly favorable treatment of 529 plans on the FAFSA. Under the current formula, a parent-owned 529 is assessed at a maximum of 5.64% — meaning only $564 of every $10,000 counts against aid eligibility. They compare this to custodial accounts or student-owned assets, which are assessed at 20%, and explain how ownership structure (parent, grandparent, or student) can make or break a financial aid package. The hosts also touch on the impact of the SECURE 2.0 Act and the recent FAFSA simplification. If you've ever worried that saving in a 529 plan will sabotage your child's aid chances, this episode is a must-listen. And if the conversation helps you navigate college funding, consider supporting the show at buy me a coffee dot com slash fexingo.

#529Plans #CollegeSavings #FinancialAid #FAFSA #StudentAid #EducationFunding #Parenting #CollegePlanning #SECUREAct #AssetAssessment #Finance #PersonalFinance #FexingoBusiness #BusinessPodcast #CollegeCosts #StudentLoans #Savings #TaxAdvantaged

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In this episode, Lucas and Luna explore how 529 plans can help families fund special education services and assistive technology for students with disabilities. With about 21% of undergraduates reporting a disability, many families miss that these expenses can be qualified if tied to enrollment at an eligible institution. Lucas breaks down specific examples: sign language interpreters, note-taking software, Braille materials, and even housing accommodations. They also compare 529 plans with ABLE accounts and discuss the importance of documenting the disability and the educational necessity. A practical guide for parents planning ahead.

#529Plans #SpecialEducation #AssistiveTechnology #CollegeFunding #Disability #EducationPlanning #FexingoBusiness #BusinessPodcast #Finance #CollegeSavings #SpecialNeeds #ABLEAccounts #IRS #Tuition #Tutoring #AdaptiveEquipment #SECUREAct #StudentExpenses

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Did you know your 529 plan can cover GRE, GMAT, MCAT, and LSAT prep courses and exam fees? In this episode, Lucas and Luna break down the specific IRS rules that allow these expenses if your child is enrolled at least half-time. They discuss the difference between prep materials from an eligible institution versus third-party providers, the $10,000 lifetime limit for loan repayment that can also apply to exam costs in some cases, and a real example of a student saving over $1,500 on exam prep using a 529 plan. Plus, a listener question about whether study abroad exam fees qualify. Whether your child is aiming for graduate school or professional programs, this episode gives you the concrete details to maximize your 529 withdrawals without triggering taxes or penalties.

#529Plans #GraduateSchool #GRE #GMAT #MCAT #LSAT #ExamPrep #CollegeSavings #EducationFunding #TaxAdvantaged #IRS #SECURE2Act #StudentCosts #Finance #Podcast #FexingoBusiness #BusinessPodcast #CollegeSavingsPodcast

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Episode 139 of The College Savings Podcast: Lucas and Luna explore how the Tax Cuts and Jobs Act expanded 529 plans to cover K-12 tuition up to $10,000 per year per beneficiary. They break down the federal rules, state conformity traps, and the strategic trade-offs between using a 529 for private school now versus saving for college. A must-listen for parents considering private elementary or secondary school.

#529Plans #K12Tuition #PrivateSchool #EducationSavings #TaxCutsAndJobsAct #QualifiedExpenses #StateTaxDeductions #CollegeSavings #PersonalFinance #ParentingTips #FexingoBusiness #BusinessPodcast #Finance #EducationFunding #TuitionStrategy #529Limit #SavingForSchool #LucasAndLuna

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The SECURE Act 2.0 lets you roll over up to $35,000 from a 529 plan to a Roth IRA, but the rules are tight. Lucas and Luna walk through the 15-year holding period, the annual contribution limit trap, and the earned-income requirement — using a real scenario where a graduate has $30,000 leftover after a four-year degree. They explain why timing matters, how the clock resets if you change beneficiaries, and what happens if you exceed the Roth IRA income phase-out. This episode is essential for any family sitting on leftover 529 funds who thought the only options were a new beneficiary or a penalty.

#529Plan #RothIRA #SECUREAct2 #CollegeSavings #RetirementRollover #EducationFunding #TaxPlanning #RothIRARules #529Rollover #EarnedIncome #ContributionLimits #Fiduciary #Finance #PersonalFinance #FamilyFinance #FexingoBusiness #BusinessPodcast #TheCollegeSavingsPodcast

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