What Expenses Are Considered Valid with a Raise Education Account?
A Raise Education account allows funds to be used for a variety of qualified educational expenses. These expenses are determined based on 529 plan guidelines and other education-related financial policies.
Qualified Education Expenses
- Tuition and Fees: Costs for enrollment at eligible educational institutions, including colleges, universities, and certain K-12 schools.
- Books and Supplies: Textbooks, lab materials, and other required educational supplies.
- Technology: Laptops, tablets, internet access, and software necessary for coursework.
- Room and Board: Housing and meal plans for students enrolled at least half-time at an eligible institution.
- Special Needs Services: Educational expenses required for students with disabilities.
- Apprenticeship Programs: Costs associated with registered apprenticeship programs, including equipment and tools.
- Student Loan Repayments: A portion of funds may be used toward qualified student loan payments (subject to applicable limits).
Why It Matters
Understanding what expenses are covered helps account holders plan effectively and maximize the benefits of their Raise Education account. Proper usage ensures that funds are spent efficiently on educational needs while maintaining compliance with financial regulations.
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