Q. is Cost of Attendance for a student Living at Home with Parents Pers/Misc as listed by the college's financial aid office eligible 529 expense?
A. Yes, but not exactly.
Off campus R&B is limited to the lesser of actual cost or the school's "allowance for attendance" .
Calculating home costs is a little difficult. if the family pays rent, the student's share is the rent + utilities divided by the number of occupants. If the Family owns the house, the cost would be actual out of pocket costs (not including mortgage principal) divided by number of occupants.
Most people would be safe in using the school's allowance amounts.
