Comments on: So You’ve Saved Money For Your Child’s College Education In A 529 And They Get A Full Scholarship. Now What? http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/ Helping a unique generation achieve financial independence. Sat, 21 Nov 2009 05:51:06 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Jeremy http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/#comment-950 Jeremy Wed, 24 Jan 2007 18:14:56 +0000 http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/#comment-950 Lisa, you are absolutely correct. 529s, unlike other college savings vehicles (savings bonds for example) can use the proceeds towards virtually any higher education related expense. Whether it is books, lab fees, room and board, etc. So as you mentioned even if one were to receive a scholarship it is likely there would still be other qualified expenses that the funds could be used for. You are also correct about the education not being required to be a full blown degree program. This could include just taking occasional classes at your community college or tech school as long as they are accredited. You couldn't fly down to Florida to take attend a real estate seminar, but most public schools will be accredited. Thanks for bringing those items up. Lisa, you are absolutely correct. 529s, unlike other college savings vehicles (savings bonds for example) can use the proceeds towards virtually any higher education related expense. Whether it is books, lab fees, room and board, etc. So as you mentioned even if one were to receive a scholarship it is likely there would still be other qualified expenses that the funds could be used for.

You are also correct about the education not being required to be a full blown degree program. This could include just taking occasional classes at your community college or tech school as long as they are accredited. You couldn’t fly down to Florida to take attend a real estate seminar, but most public schools will be accredited.

Thanks for bringing those items up.

]]> By: Lisa Knight http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/#comment-944 Lisa Knight Wed, 24 Jan 2007 16:22:47 +0000 http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/#comment-944 Great article! My understanding (which could be totally off base) is that the funds from a 529 can be used for any educational expense. I doubt that a college will give a full scholarship to include food, transportation, books, fees, supplies, etc. I know I had aid, scholarships & savings but I still ended up taking out a loan to cover the extras that were left. Lab fees were outrageous & books, forget about it! I also don't believe the funds have to be used for "college", just for further education. So if the child was going to tech school, couldn't the funds be used there? Great article!

My understanding (which could be totally off base) is that the funds from a 529 can be used for any educational expense. I doubt that a college will give a full scholarship to include food, transportation, books, fees, supplies, etc. I know I had aid, scholarships
& savings but I still ended up taking out a loan to cover the extras that were left. Lab fees were outrageous & books, forget about it!

I also don’t believe the funds have to be used for “college”, just for further education. So if the child was going to tech school, couldn’t the funds be used there?

]]> By: frank http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/#comment-882 frank Mon, 22 Jan 2007 16:43:35 +0000 http://genxfinance.com/2007/01/22/so-youve-saved-money-for-your-childs-college-education-in-a-529-and-they-get-a-full-scholarship-now-what/#comment-882 Nice article. Thanks for posting that. Nice article. Thanks for posting that.

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