Education

Hal_Al · ‎April 17, 2023

"Qualified education savings" is just an informal term for Qualified Tuition Plans (QTP), the most common being the 529 Plans and the Educational Savings Account (ESA or Coverdell ESA). If you have such a plan, those terms are usually in the account name.

Q. What all can I include as education expenses?

Tuition and fees	Yes, up to the full amount of college or vocational school tuition and required fees. Limited to $10,000 per year for K-12.
Books and supplies	For college expenses only
Computers, software and internet access	For college expenses only
Room and board	For college expenses only, if the student is enrolled at least half-time
Special needs equipment	For college expenses only
Transportation and travel costs	No, costs associated with transportation to and from campus, such as airfare or gas, are not qualified education expenses
Health insurance	No, even health insurance policies offered by a school are not considered qualified expenses
College application and testing fees	No
Extracurricular activity fees	No
Student loans	Yes, with a lifetime limit of $10,000