Withdrawing 529 plan funds for college? Here's what to know.

Maximize the amount you have stashed away for your education

529 College Savings Plan form with small graduation cap, spectacles, and a pen sitting on top of it
The 529 plan is a tax-advantaged savings account that can be used to pay for tuition
(Image credit: Andrey Popov / Getty Images)

A 529 plan is a great way to enjoy some tax advantages while you save up for college. But after all that hard work saving, you want to make sure you are smart about tapping those funds. Sticking to the rules for how and when you use the funds — and steering clear of common snafus in the process — can help you maximize the amount you have stashed away for your higher education.

Reserve withdrawals for qualified expenses

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Becca Stanek, The Week US

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.