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Om and board amount treated as a qualified expense. For students living on campus, the amount of room and board treated as a qualified expense can be the actual amount charged to the student, if it is greater than the cost of attendance allowance. Refunds: If an Eligible Educational Institution refunds any part of the Qualified Withdrawal to you, the earnings portion of the withdrawal (anything over the initial $2,000 award) may be considered a Non-Qualified Withdrawal that is subject to t.

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