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?