A qualified student loan means a qualified education loan under Section 221(d) of the Internal Revenue Code
You can check online at texastuitionpromisefund or contact customer service at 800-445-4723, Option #5, for information about the Transfer Value of your account
The Purchaser can transfer the Transfer Value (Transfer Outside of Plan) of your Tuition Units to a qualified 529 college savings plan, such as the Texas College Savings Plan ® , and the proceeds can be used to pay up to $10,000 in amounts paid as principal or interest on qualified student loans of the Beneficiary and/or their sibling. The Transfer Value is limited to the lesser of (1) the costs the Tuition Unit would cover at a Texas public college or university or (2) the original purchase price of the Tuition Unit plus or minus the Plan’s net investment earnings or losses on that amount https://loansolution.com/installment-loans-nm/. Please note that the $10,000 limitation applies on a per-student basis, rather than a per-account basis, with a lifetime limit of up to $10,000 per Beneficiary regardless of whether the funds are distributed from multiple 529 accounts. Continue reading “A qualified student loan means a qualified education loan under Section 221(d) of the Internal Revenue Code”