529 Education Savings Plans: More Flexibility Than You Think
Planning for your child’s education can feel overwhelming. But a 529 education saving plan offers a flexible way to help build a financial foundation for their educational future.
While most people know that 529 plans can help cover college and university tuition, these versatile accounts also can pay tuition for vocational and trade schools, making them suitable for students pursuing careers in skilled trades — from plumbing to culinary arts.
Withdrawals also can be used for costs beyond tuition, covering room and board for students enrolled at least half-time. And, plans can help pay for books, computers and other qualified expenses. And, surprisingly to some, plans can help with student loan repayment — up to $10,000 per beneficiary.
Of course, there are potential tax benefits, but don’t overlook flexibility when considering enrolling in a 529 education savings plan.
Investments in 529 plans will fluctuate with changes in market conditions and may be worth more or less than the original investment when redeemed.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Alan Bell, AAMS™, 222 Great Road (Donelan's Plaza), Suite 8, Littleton, MA 01460, (978) 486-1059, alan.bell@edwardjones.com.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
Edward Jones, Member SIPC
While most people know that 529 plans can help cover college and university tuition, these versatile accounts also can pay tuition for vocational and trade schools, making them suitable for students pursuing careers in skilled trades — from plumbing to culinary arts.
Withdrawals also can be used for costs beyond tuition, covering room and board for students enrolled at least half-time. And, plans can help pay for books, computers and other qualified expenses. And, surprisingly to some, plans can help with student loan repayment — up to $10,000 per beneficiary.
Of course, there are potential tax benefits, but don’t overlook flexibility when considering enrolling in a 529 education savings plan.
Investments in 529 plans will fluctuate with changes in market conditions and may be worth more or less than the original investment when redeemed.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Alan Bell, AAMS™, 222 Great Road (Donelan's Plaza), Suite 8, Littleton, MA 01460, (978) 486-1059, alan.bell@edwardjones.com.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
Edward Jones, Member SIPC
