Hello! I’m a first year uni student. I had to pay my tuition and fees upfront with my 529 College Savings account (which can only be used for this purpose or I can be penalized), but then I was awarded a scholarship, therefore being personally refunded over $4,000 by the school. Is this money now mine, independent of the 529 tax restrictions? Does this qualify as the “scholarship exception”? I don’t plan on spending much of it at all but I was wondering if I am free to spend it/invest how I want without any penalty.
Submitted September 10, 2019 at 09:19PM by b8byian https://ift.tt/32AY45G
