The rising cost of higher education leaves many families grappling with the complexities of college funding. 529 plans, designed to help families save for education expenses, are a popular choice. But can these plans be a solution for the often-overwhelming burden of student loan debt? While the answer isn’t a simple yes or no, exploring the nuances of 529 plan usage can reveal valuable strategies for managing education costs, both before and after college. This guide delves into the intricacies of 529 plans, clarifying their purpose, benefits, and limitations, particularly concerning student loan repayment. We’ll examine qualified education expenses, tax Read More …
