Department of Human Services

Food Stamp OnlinePolicy Manual

Exempt Resources

Revised:

15.20

EDUCATIONAL ACCOUNTS (EFFECTIVE 10-1-08)

Food Stamp Table of Contents

1240-1-4-.05(20)

Two types of education savings accounts that currently receive tax-preferred status under the federal tax code are shown below.†† These accounts are exempt resources for Food Stamps.

 

        Section 529 qualified tuition programs, which allow owners to prepay a studentís education expenses or to contribute to an account to pay those expenses, and

 

        Coverdell education savings accounts (Section 530), an IRA type of account designed to pay a studentís education expenses.

 

Glossary of Terms

Food Stamp Table of Contents