529 education savings accounts allow individuals to invest money for a designated beneficiary, with tax-free withdrawals for qualified higher education expenses. Eligible expenses include tuition, fees, room and board, as well as books, supplies, and equipment. Computers, software, and internet access are also covered, subject to certain limitations.

These accounts can be used to pay for expenses at eligible educational institutions, as long as the student is enrolled at least half-time. The IRS defines what constitutes qualified higher education expenses, and withdrawals must be used for these purposes to remain tax-free.

Further details on 529 accounts and eligible expenses are available, providing more information on how these accounts can be used to save for education expenses.