Qualified higher education expenses for federal tax purposes include:

• Tuition and fees
• Books
• Supplies and equipment
• Room and board for beneficiaries attending on at least a half-time basis.
• Computer technology, equipment, internet access
• Expenses for educational special needs services*
• Up to $10,000 a year for K-12 tuition*
• Transfers up to $15,000 a year to an ABLE account for the beneficiary*
• Apprenticeship expenses*
• Up to $10,000 for student loan repayment*

*If you are a New Mexico taxpayer, New Mexico and the federal government currently have different definitions for “qualified higher education expenses” for tax purposes. See “Important Notice to New Mexico Taxpayers”