SECURE Act Update
On December 20, 2019, the SECURE Act was signed into law. This Act allows 529 Plan account owners to withdraw assets to pay for certain apprenticeship programs and to pay principal and interest on qualified higher education loans for the beneficiary or any of the beneficiary’s siblings. The loan repayment provisions apply to repayments up to a lifetime maximum of $10,000 per individual. As with any change to law, we encourage account owners to consult a qualified tax advisor regarding the application of federal and state tax laws to their particular situation.
If you have questions about the CollegeChoice 529 Direct Plan, you can reach our Customer Service team by phone at 866.485.9415, Monday through Friday from 8 a.m. to 8 p.m., Eastern Time.