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Expanded 529 Accounts: More Educational Expenses for Children

New rules allow funds from 529 savings accounts to be used for a wider range of educational expenses for children from kindergarten through 12th grade. This includes tuition, materials, tutoring, and even homeschooling. These changes provide families with greater flexibility in funding their children's education.
Key points
529 accounts can now cover tuition for public, private, and religious schools from kindergarten through 12th grade.
Funds from a 529 account can be used for curriculum materials, books, online educational materials, and exam fees.
New rules also include tutoring costs (under certain conditions) and educational therapies for students with disabilities.
Expenses related to homeschooling also qualify for 529 account funding.
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Status:
Introduced
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Additional Information
Student Empowerment Act
Print number: S 152
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2025-01-20