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What to Do With a 529 Plan If Your Kid Doesn’t Go to College

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You’ve been saving for years in a 529 plan, which lets you fund your child's college costs tax-free. But what happens if your kid doesn’t go to college? Will you face a steep tax bill?

Not to worry. Money in a 529 account can be used tax-free for many types of schooling, not just expenses at a four-year college. And there are several ways you can use those savings, even if your child doesn’t pursue any type of higher education.

Read more at Consumer Reports.


Smart Savers Blog


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.