The dangers of using a 529 plan for student loan debt

 

Source: Robert Farrington - Forbes

Being able to allocate 529 money to student loan debt may be a boon for some people, but families should be aware of potential consequences. According to Mary Ann Ferreira of Viridian Advisors, one issue to be aware of is the fact that consumers who go this route may miss out on important tax deductions for student loan interest. 

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