What Can You Pay For With a 529 Plan?

Opening an education savings account, such as an NC 529, while your child is young has all sorts of benefits. One benefit is that it allows the account to build until it’s needed for education. Earnings grow tax-free if the beneficiary uses the money for “qualified education expenses.” That term may sound confusing, but it’s intentionally broad. This is because the fund can pay for many school-related costs, …