How to Use Your 529 Accounts for Qualified Educational Expenses

The money can stay in the account as long as you want. The trick is not how long the money is in the account, but rather what is the money used for when it comes out of the account? And it has to be used in order to have the most favorable tax treatment,. What is a qualified educational expense? Before we state the specific expenses, we have to begin with the institutions. Virtually all accredited post-secondary institutions meet this definition.