Y our 529 plan is no longer just for college tuition. ... Thanks to the SECURE Act of 2019, you can now allocate up to $10,000 from your 529 plan to pay off qualified student loans.

Just one-third of families saving for college use 529 plans, the survey found. It’s easy to get started, even if you don’t have a lot to put away. In most states, you can open a 529 with just $25.

However, recent federal law changes allow you to use your 529 plan to cover student loan debt. In 1996, ... Pros and Cons of Using a 529 Plan to Pay Student Loans.

In addition, a 529 plan can be used to pay off student loan debt, thanks to 2019’s SECURE Act. Here’s how you can use a 529 plan to pay off student loans and some smart ways to do so. How a ...

The "One, Big, Beautiful Bill," just passed in the U.S. House of Representatives, would allow 529 plans to be used toward career certifications and training programs. A 529 plan is a tax-advantaged ...

A 529 plan can be used to pay for college costs in any state. Most states offer a direct-sold 529 plan, where the money is invested directly from the state.

As of 2024, you may be allowed to roll over up to $35,000 in unused funds from your 529 plan into a Roth IRA account for the beneficiary — the idea being that these unused funds can help ...

The 529 plans allow money to grow tax-free, and if withdrawals are to pay for "qualified education expenses," they can be used tax-free, Boneparth said.

However, assets in a 529 plan have a lesser impact on financial aid packages than income does. A student’s federal financial aid is based on an estimate of what a family can contribute annually ...

In addition, a 529 plan can be used to pay off student loan debt, thanks to 2019’s SECURE Act. Here’s how you can use a 529 plan to pay off student loans and some smart ways to do so. How a ...

The 529 plans allow money to grow tax-free, and if withdrawals are to pay for "qualified education expenses," they can be used tax-free, Boneparth said.