New Options for Using Leftover ‘529’ Plan Funds

Many parents and grandparents use tax-advantaged “529” savings plans to set aside money for a child’s college education. But what if the student wins the scholarship, graduates early, or doesn’t claim the full amount contributed to the plan?

Many account holders with 529s of unused savings think they have two options: Leave the money in the account to fund further education for the beneficiary — or withdraw and pay taxes and penalties. . New Options for Using Leftover ‘529’ Plan Funds

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