529 Funds Can Now Be Used for Apprenticeships, Student Loan Repayment
On Dec. 20, 2019, the Setting Every Community Up for Retirement (SECURE) Act was signed into law as part of the federal year-end spending bill. In addition to changes to retirement planning, the new law allows tax-free 529 college savings plan distributions to be used to pay for registered apprenticeship programs and up to $10,000 in certain student loan repayments, bringing new flexibility and expanded utility to 529 plans.
