Expanding 529 Accounts: Funding K-12 Education and Homeschooling Expenses
This new act allows funds from 529 savings accounts to be used for a broader range of educational expenses for children from kindergarten through 12th grade. This includes tuition, materials, online classes, tutoring, tests, and therapies for students with disabilities, even for homeschooling. This gives parents greater flexibility in financing their children's education.
Key points
529 accounts can now cover tuition and materials for public, private, and religious K-12 schools.
Online educational materials and tutoring (under certain conditions) can be funded.
The act includes expenses for standardized tests, college admission exams, and therapies for students with disabilities.
Funds from 529 accounts can also be used for homeschooling expenses.
Status:
Introduced
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