Common use of Higher education expenses Clause in Contracts

Higher education expenses. The exception applies to the extent that your IRA distributions during the year do not exceed the qualified higher education expenses for academic periods in that year. Such expenses include tuition, fees, books, supplies and equipment required for enrollment or attendance at an eligible educational institution on a full-time, half-time or less than half-time basis. They also include room and board if the student is—enrolled at least half-time (generally, the school’s posted room and board charge, or $2,500 per year for students living off- campus and not at home). The qualified expenses must be reduced by the amount of any Pell Grant or other tax-free scholarship, tax-free distributions from ▇▇▇▇▇▇▇▇▇ Education Savings Accounts (formerly Education IRAs), and tax-free employer-provided educational assistance. However, they are not reduced for the individual’s earnings, education loans, gifts, inher- itances, personal savings, or savings from a qualified state tuition pro- gram. An eligible educational institution is any college, university, vocation- al school or other post-secondary educational institution eligible to participate in federal student aid programs. This includes virtually all accredited public, nonprofit and proprietary post-secondary institu- tions.

Higher education expenses. The This exception applies to the extent that your the IRA distributions during the a year do not exceed the qualified higher education expenses for academic periods in that year. Such expenses include tuition, fees, books, supplies and equipment required for enrollment or attendance at an eligible educational institution on a full-time, half-time or less than half-time basis. They also include room and board if the student is—is enrolled at least half-time (generally, the school’s posted room and board charge, or $2,500 per year for students living off- campus and not at home). The qualified expenses must be reduced by the amount of any Pell Grant or other tax-free scholarship, tax-free distributions from ▇▇▇▇▇▇▇▇▇ Education Savings Accounts (formerly Education IRAs), and tax-tax- free employer-provided educational assistance. However, they are not reduced for the individual’s earnings, education loans, gifts, inher- itancesinheritances, personal savings, or savings from a qualified state tuition pro- gramprogram. An eligible educational institution is any college, university, vocation- al school or other post-secondary educational institution eligible to participate in federal student aid programs. This includes virtually all accredited public, nonprofit and proprietary post-secondary institu- tions.