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Is paying off a student loan a qualified expense?

On December 20, 2019, a federal spending bill was signed containing provisions allowing 529 plan account owners to withdraw assets to pay principal and interest on certain qualified education loans for the beneficiary of your account or any of the beneficiary’s siblings. The loan repayment provisions apply to repayments up to $10,000 per individual. This $10,000 is a lifetime amount, not an annual limit.