529 expense?
Hello Ms. Savage,
I’m wondering if I can use my child’s college/529 fund to pay for tools for his apprenticeship program? I live in IL.
Thank you,
Terry Says
No. Money in a 529 plan can be used only for “qualified higher education expenses.” Tools won’t fit that category –unless they are required (like books) for a college course he is taking. Save the money for another child in the family — or let it grow for your first grandchild!
