
The rising cost of higher education leaves many graduates grappling with substantial student loan debt. While 529 plans are traditionally associated with funding college tuition, a growing number of individuals are exploring the possibility of using these accounts to pay down student loans. This guide delves into the intricacies of utilizing 529 plans for student loan repayment, examining the tax implications, potential benefits, and alternative strategies. We’ll explore the practical aspects, providing clarity on the process and helping you determine if this approach aligns with your financial goals. We’ll navigate the complexities of IRS regulations, compare 529 plans to other Read More …