The question of whether 529 plan funds can be used to pay off student loans is a common one among families saving for higher education. While the intuitive answer might seem simple, the reality involves a nuanced understanding of IRS regulations, qualified education expenses, and the potential tax implications of non-qualified withdrawals. This guide delves into the complexities of 529 plans, exploring their benefits, limitations, and alternative uses to provide a clear picture of how these savings vehicles can best serve your financial goals. We will examine the specific definition of “qualified education expenses” as defined by the IRS, clarifying Read More …