ERIC Number: ED591547
Record Type: Non-Journal
Publication Date: 2018-Nov-29
Pages: 11
Abstractor: As Provided
ISBN: N/A
ISSN: N/A
EISSN: N/A
A State-by-State Comparison of 529 College Savings Plans. Revised and Updated. Backgrounder. No. 3363
Butcher, Jonathan; Slattery, Elizabeth
Heritage Foundation
As part of the Tax Cuts and Jobs Act enacted last year, federal lawmakers gave parents more flexibility with their own savings for their children's education. Now, families that save money for college using what are commonly known as 529 college savings plans (named after Section 529 of the Internal Revenue Code) can apply some of those savings to pay tuition at private K-12 schools before a student finishes high school. Because state policies and investment options are central components of 529 plans, policymakers should review state laws to make sure state rules do not interfere with the new options for students in federal tax law. Whether families and investors should use 529 savings plans to pay for K-12 expenses is a decision for parents and students. State policymakers should not interfere with parents who choose to use their 529 savings plans to pay for K-12 education expenses.
Descriptors: Money Management, Paying for College, Geographic Regions, Tuition, Elementary Secondary Education, Educational Finance, Higher Education, Postsecondary Education, State Legislation, Tax Credits, Federal Legislation
Heritage Foundation. 214 Massachusetts Avenue NE, Washington, DC 20002-4999. Tel: 202-546-4400; Fax: 202-546-8328; e-mail: info@heritage.org; Web site: http://www.heritage.org
Publication Type: Reports - Descriptive
Education Level: Higher Education; Postsecondary Education; Elementary Secondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Heritage Foundation
Grant or Contract Numbers: N/A