Can a person you Bright Start monies to pay student loan notes after the child is out of college or does it have to be used directly for tuition/books/etc. at the time they are in college?
Terry Says: Sorry, but paying off student loans is not an allowable tax-free use for a 529 college savings account. It’s a shame you didn’t think to use the money before taking out the loans. But now it can be used for another child in the same family. For the specific rules, here is a good link: https://www.529.com/content/529qa_using.html