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Account Updates

529 Funds Can Now Be Used for Apprenticeships, Student Loan Repayment

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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.

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Resources to help you learn

Virginia529 offers free, in-person information sessions at locations across Virginia. These hour-long sessions highlight the program’s three plans, explain the benefits to account owners and give you the chance to get your questions answered. If you don’t live near one of our in-person sessions, Virginia529 offers online webinars where you can learn more from the comfort of your own home.