We have left over 529 dollars and our daughter wants to go back to school to change her career. She owns her home and has a mortgage. Can the 529 money be used for her living expenses, food, mortgage, property taxes etc? Any limits?
Yes, up to the limit of the college’s Cost of Attendance figures for room and board for her particular living situation, as long as she is enrolled at least half-time as determined using the school’s standards.
Will you also be using it to pay her tuition, fees, books? Is there enough to cover these expenses and living expenses? If so…terrific!