One option for paying tuition is a 529 plan. This educational savings plan that has primarily been associated with paying for college expenses, may now be used to save and invest in your child’s K-12 education. As of January 1, 2018, tax-free withdrawals, up to $10,000 for tuition expenses (per student) is allowed by federal law. This includes tuition at elementary or secondary public, private, or religious. Please discuss with a professional financial advisor to learn more about the 529 plan and if this would be a fit for your family.
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