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Back to school: Are parents tapping college savings in 529 plans for private K-12 tuition?. See more national education news here

| September 10, 2019
Back to school: Are parents tapping college savings in 529 plans for private K-12 tuition?. See more national education news here

Few parents are using 529 savings plan for their school-aged children’s tuition more than a year after the Trump Administration first allowed the tax-advantaged funds to go to K-12 private education, according to several plan administrators.

About 5.5% of withdrawals for beneficiaries 16 and under were made in 2018, up 4% from 2016, according to Ascensus, which administers 529 plans for 20 states and the District of Columbia.

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