Your son or daughter has finally graduated from high school and soon will be heading off to college. Before he or she even meets their professors, you will have received the first of many tuition bills from the college bursar’s office. It’s a good thing you’ve been saving for college with a 529 plan. You’ve got money set aside for just this very occasion. But once you’ve entered the “529 withdrawal phase”, be sure you make the right decisions when tapping your 529 account. Here are six mistakes you’ll want to avoid:
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