In general, you can use 529 funds to pay for your student’s off-campus housing costs. However, housing is one of many expenses that are subject to a reimbursement limit.
If you are still in your 60s, the good news is your decision doesn’t have to be permanent. You actually have two ways in which you can change your benefit amount.
With the grandparents as the owner rather than the parent, the student may have a better chance of receiving financial aid.
What will happen to all the money I have saved for her college expenses now that she doesn’t need it?
Elizabeth has written one post so far, and it was the most popular post of 2019. With over 12K views, this clear descriptions of the housing reimbursement rules has helped a lot of people.
In general, you can use 529 funds to pay for your student’s off-campus housing costs.