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Question

What is a 529 plan and what can it be used for?

Answer

A 529 plan is a state-sponsored education savings account that offers tax-free growth and tax-free withdrawals for qualified education expenses. These include tuition, fees, books, and room and board at colleges, trade schools, and vocational programs. Starting in 2026, families can also use up to $20,000 per year for K-12 expenses, including tutoring, test fees, and educational therapies.

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Financial Planning Tax Planning Family & Health FAQs
Last Updated Nov. 5, 2026
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