11-03-2016, 04:51 PM
My father kindly set up 529 accounts for each of his grandchildren. My youngest son is going to try to get a bachelor's degree mostly by using dual credit and credit-by-exam. Could he use any of his 529 money for exam fees? Or textbooks if he isn't actually enrolled in a class? I know Straighterline can't accept 529 funds. It's my impression the 529s work something like Health Care Savings Accounts: you can make withdrawals and use the money to pay for college expenses and you probably will never be asked to show proof of what you spent the money on, but you should keep the receipts in case you are audited. Is that correct?
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