What are qualified education expenses?
Withdrawals from your PA 529 account are tax-free when used to pay qualified education expenses. These are defined by the Internal Revenue Code to include the following:
- Room and board (as specified in the college's cost of attendance; must be at least a half-time student)
- Required books
- Required supplies
- Required equipment, including computers*
- Mandatory fees
- Special needs services
* Must be used primarily by the beneficiary during any of the years the beneficiary is enrolled at an eligible educational institution.
- What are qualified education expenses?
- Do I have to use my savings at a Pennsylvania college or university?
- What are eligible educational institutions?
- Can I access my account for purposes other than paying for higher education (non-qualified withdrawals)?
- What happens if my child does not attend college?
- Who can access my account?
- When I send mail regarding my account, it goes to Massachusetts, not Pennsylvania. Wouldn't it be more direct to send it in-state?