A 529 plan is a tax-advantaged savings vehicle designed to encourage savings for future education expenses.

529 plans can be used on any qualifying expenses incurred at an undergraduate college, graduate level college, or a vocational/ trade school.

Additionally, due to recent legislation, 529 plans can be used for private elementary and private high school tuition costs, up to $10,000 per year, per child.

Click below for a list of qualifying expenses, a list of the benefits of 529 plans, and potential solutions if the funds are not needed the money for schooling.