Additional credentialing programs, certifications and continuing education now qualify for my529 funds
Whether you are pondering a career change via a specialized program, studying for a certification, or wanting to skill-up for a promotion or raise, recent legislation offers new ways to use your my529 funds to expand your career opportunities.
For example, students can now withdraw from their my529 investments for certain flight programs while acquiring their pilot’s license, or on necessary supplies and fees toward completing their CPA exams to become an accountant — or even on the necessary credential hours for maintaining professional certifications.
While the legislation didn’t provide an exhaustive list, here are some great places to explore some of the qualifying options:
- Workforce Innovation and Opportunity Act.
- WEAMS Public directory (this search page can take a moment to load).
- Registered Apprenticeships.
- Occupational or Professional Licenses issued or recognized by state or federal governments.
- Military credentials (Army, Navy, Coast Guard, Air Force and Marines).
Additionally, required books, equipment and supplies for enrollment in a recognized postsecondary credential program are eligible. Fees for testing also qualify if required to obtain or maintain a credential. These credentials must be widely recognized and reputable, but the recent legislation granting these permissions was not more specific. Likely the CDL, HVAC, CPA, LSAT and bar exams all qualify, but always consult with your attorney or legal advisor, especially as this list may continue to grow as the Secretary of Labor approves additional programs.
Finally, continuing education costs now qualify (if it is required to maintain a postsecondary credential), so you can prioritize hitting those hours this year.
With even more ways to use your my529 funds, you can study for, complete, and stay up to date on your work goals, whether you are just graduating, are skilling up for that next rung on the ladder, or as you’re dreaming up your next career.
