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529 plans expanded to elementary, secondary education

January 5, 2018

A tool for saving for college has been expanded to elementary and secondary education.

New this year, 529 plans can be used for tuition and other qualified expenses of K-12 schooling. Parents, grandparents, godparents, and anyone interested in supporting a child's education can contribute; earnings on 529 plans accumulate tax-free; and up to $10,000 can be used for qualified elementary and secondary education expenses each year.

Visit the Council for American Private Education (CAPE) website to learn more about the 529 expansion.

Speak with a financial adviser for more information.