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529 Savings Plans Offer Exciting New Options for Christian Schools

The recent tax reform law created a great opportunity for Christian schools and families. The Tax Cuts and Jobs Act was signed into law December 22, 2017. In a significant step forward that ACSI strongly supported and promoted, the law expanded 529 savings plans so that they now allow savings for K–12 tuition expenses. The maximum distribution for K–12 tuition is $10,000 per year per child for expenses incurred beginning January 1, 2018. This means current account owners may begin using these funds immediately for K-12 tuition.

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