No, the beneficiary is the student listed on the savings account. Each account has an owner and a beneficiary. If any distribution is taxable, it is taxed to the person that made the distribution, so it is usually wise to have the student make the distribution, therefore the tax would be at the student's rate. Also, distributions may be made directly to the school in the student's name. Distributions must be made in the same tax year as the education expenses are paid for the distribution to be tax-free.
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