STATEHOUSE (March 5, 2021) – Several apprenticeship programs are now considered qualified expenses for funds saved through the CollegeChoice 529 Savings Plan, according to State Rep. Dale DeVon (R-Granger).
As of Dec. 31, 2020, Hoosiers in House District 5 saved over $220 million through the CollegeChoice program for more than 14,000 students to pay for a traditional four-year college or technical school. DeVon said these accounts can now be used to pay for a qualified apprenticeship program.
"An apprenticeship is certainly a great way to gain valuable skills and knowledge in your chosen industry," DeVon said. "While often more affordable than attending college, apprenticeship programs still cost money, so having a savings plan to tap into will help as they launch their careers."
According to DeVon, qualified apprenticeship programs must be certified by the Secretary of Labor in order to be considered as acceptable expenses with this long-term savings plan.
DeVon said this comes at a time when Indiana is working to skill up its workforce and fill thousands of unfilled, high-paying positions across the state. Many of these positions require an applicant to undergo apprenticeship training.
For more information about how to sign up for a CollegeChoice 529 Savings Plan, visit in.gov/tos/iesa.
State Rep. Dale DeVon (R-Granger) represents House District 5, which includes portions of St. Joseph County.
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