In 2018, parents who contribute into a 529 savings plans can utilize their annual distributions up to $10,000 per child per year toward private school expenses.

Traditionally, a 529 plan allowed families to accumulate money on a tax-free basis and utilize the savings only to pay for a child’s college education. However, with the passage of the recent federal tax overhaul, these funds may now be applied to elementary, middle and high school costs as well. For some FWC families, this is significant news in considering how to fund tuition at FWC.

We encourage you to seek the advice of your investment advisor and/or tax professional to inquire as to how you might best take advantage of this new benefit applicable to 529 plans.