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The Short Answer

Time to Tap Your 529, So Now What?

Understanding the tax rules and keeping track of expenses are key parts of the process.

Note: This article is part of Morningstar's College Planning Report Card special report. This article originally appeared July 1, 2014.

Question: We've contributed to a 529 account for our son for years. This fall he'll be a college freshman, and we'll be dipping into the account for the first time. How do we use it to pay for his expenses?