23 Jun Can I use a 529 plan to pay for summer school?
Q. I have to pay for some summer classes for my high school student, who had a difficult school year. Can I use a 529 plan for these?
A. We’re sorry to hear your student had a rough year.
The pandemic certainly hasn’t been easy on children.
But we have some good news.
You can use up to $10,000 per year per student to pay for elementary or secondary school tuition, said Jody D’Agostini, a certified financial planner with Equitable Advisors/The Falcon Financial Group in Morristown.
These are called distributions, she said.
“The expenses must be for tuition incurred at public, private or religious elementary or secondary schools,” she said.
Good luck to you and your student.
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This story was originally published on June 23, 2022.
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