Coverdell ESA IRA-Student Loan Payoff?
I’m having trouble finding any formal answer as to if a unused balance in a Coverdelll IRA being eligible for student loan payoff for the beneficiary. Any guidance or experience is appreciated.
I’m having trouble finding any formal answer as to if a unused balance in a Coverdelll IRA being eligible for student loan payoff for the beneficiary. Any guidance or experience is appreciated.
Permalink Submitted by Alan - IRA critic on Sun, 2023-11-05 02:50
Not directly from the ESA, but the ESA could be rolled over to a 529 from which up to 10,000 can be used for each beneficiary’s student loan payments. Treatment at the state level will vary.