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In response to "Well, sh!t. *increases his 529 contributions* -- nm" by znufrii

more overshare

Posted by oblique (aka kkuphal) Mar 18 '21, 06:07

We ended up with about $80k for each kid. My son moved out of on campus housing after the first year. His fund will run out before his final semester. If we calculate 1 year of room and board + tuition for the second kid, it comes out to just under $80k so that's going to be our plan for her as well. We just then pay the room and board out of pocket during the year.

So yeah, we didn't quite hit the mark to fund from the 529 but have been able to squeeze it out through our normal budget.

Responses:

For us, I’d rather undersave in the 529 as opposed to risking having funds leftover. -- (edited) - znufrii Mar 18, 06:15
can you continue to contrib to 529 while kids are in college? doesn't it make sense to do that? -- nm - amanda jeans Mar 18, 06:10 3
- I don't think there is a lot of benefits based on my understanding. Distributions are excluded from income but - oblique Mar 18, 06:13 2
  - The only benefit I can see would be if there is a state tax break for contributions to your plan -- (edited) - znufrii Mar 18, 06:16 1
    - yeah that was what I was thinking. -- nm - amanda jeans Mar 18, 06:19

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more overshare

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