Higher education is changing. Whether due to covid or other factors, traditional education is being disrupted. While 4-year college degrees are still the norm, alternative education routes are growing dramatically in popularity. A question we get regularly is how can students pay for our program. Enter the 529 college savings plan.
A 529 plan is a college savings plan that offers tax and financial aid benefits. 529 plans may also be used to save and invest for K-12 tuition in addition to college costs.
In some cases it may also be used by 9th students 14 and older to participate in programs that provide concurrent college credit.
Although contributions are not deductible, earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out to pay for college.
– from The 529 Advantage
Until now, most families have been under the assumption that 529s can only be used for traditional 4-year colleges and universities. Thanks to our college partnerships with the University of Maine at Presque Isle and Western State Colorado University, 529 funds can be used for Jack Mountain Bushcraft School programs, as well as other non-traditional educational opportunities that will prepare young people for the adventures ahead of them.
The trend in non-traditional education is growing rapidly. We’re working with The 529 Advantage to get the word out about these opportunities. It’s not new – students have been using 529s for tuition for our programs for several years – but up to this point it’s been like a well-kept secret. We want to get the word out.
So if you’re considering a wilderness immersion program, or one of our expedition or guide training programs, and want to use a 529 savings plan to pay for it, we’re among a small group of schools that will allow you to do so. Questions? Give us, or our friends at The 529 Advantage a call.