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I would be interested in hearing from parents who use funds from 529 accounts to pay for off-campus housing costs.
Our 529 plan states that "the limit for off-campus housing is the allowance included in the COA at the [university], or if greater, the actual amount charged by the [university] for room and board costs."
On University X's website, estimates for off-campus room and board are listed as $6400. Does this mean that the amount that one may withdraw from a 529 for rent, food, etc. for a student living off-campus at Univ X should not exceed $6400?
If 529 funds are used to pay for off-campus living expenses, what type of documentation needs to be maintained for these expenses?