The big changes to 529s in the 2025 spending bill July’s spending bill doubles the withdrawal limit for K-12 expenses to $20,000 and expands how families can use their education savings, including for nontraditional learning and IRA rollovers.
What can 529 funds be used for? Get a Sense Check Empower financial professional Nick Ryan answers the top questions families have about 529 plans: What the funds can be used for, what has changed recently, and what happens if your child doesn’t go to college.
529 college saving plans could see greater flexibility under new tax bill A 529 expansion result in SAT fees, homeschooling expenses, and non-college programs becoming eligible for tax-free 529 withdrawals.
Pencils down: Getting ahead of resumed student loan repayments After being on pause since 2020, federal student loan collections are officially back. Borrowers in default have options to get back on track with repayments.
The price of college admission: How paying for higher ed can start long before getting in From application fees to test prep and consultants, the expenses just to apply to college have some families dipping into education savings long before acceptance letters arrive.
Lawyer up: Why more students are turning to law school Historically, law school applications tend to rise during periods of economic volatility. Increased interest in law school isn’t just about an alternative to job-seeking: There’s a values shift happening as well.
School rules: College savings can help fund your retirement 2024 brings the option to roll money from a 529 college savings plan into a Roth IRA. Check out the requirements and when this could make sense for you.
Unraveling the 403(b): Eligibility, withdrawal rules & taxes A 403(b) plan is similar to a 401(k) plan with a few exceptions. Here's how 403(b) plans work, as well as the pros and cons of investing in this type of retirement plan.
Smart strategies for managing student loan debt in retirement Student loans are a powerful tool for affording education. For seniors, student loan repayment can significantly impact their ability to save or spend in retirement.
The backpack math: Cost of school supplies up 24% The cost of school supplies is up 24% as parents plan to spend an average of $875 on back-to-school items this year.
How to apply for a student loan Are you heading to college or waving off a high school graduate? Learn about the different types of student loans, how to apply, who is eligible, and more.
What does it mean to refinance student loans? Refinancing your student loan can help you save money on your monthly payment and interest. Learn more about the benefits, downsides, and if refinancing is right for you.