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My child is going to live off-campus and pay rent more than COA rent suggested by the college.

  1. Can I withdraw the COA rent amount from 529 and show the actual rent paid (which is way more) as proof?
  2. Can I withdraw rent money every month or should I do it after one semester?

1 Answer 1

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  1. Yes. You can withdraw up to the off-campus COA amount. https://www.savingforcollege.com/article/can-you-use-a-529-plan-to-pay-for-room-and-board

  2. Either method is fine, but "be sure to take the distribution in the same year that the qualified expense was paid" https://www.savingforcollege.com/article/using-your-529-plan-to-pay-for-room-and-board

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