What is considered a “qualified expense”?
Most expenses related to a beneficiary’s higher education qualify as an eligible expense. Some of the most common qualified expenses as defined by the IRS include:
Tuition and fees at eligible educational institutions
Books and materials
Supplies and equipment (e.g. computers, software, printers, etc.)
Certain room and board expenses
Also, you can now use tax-free distributions from your Oregon College Savings Plan account to pay for qualified expenses for certain apprenticeship programs, as well as principal or interest repayments on any qualified education loan up to $10,000 for the beneficiary or a sibling of the beneficiary — up to a $10,000 lifetime maximum, per person. Learn more here.
See the full list of Qualified Education Expenses as defined by the IRS, here.