Hostettler, McNamara: Hoosiers can now use CollegeChoice 529 Savings Plans for apprenticeship programs

Posted by: Jordan Wallace  | Friday, March 12, 2021

STATEHOUSE (March 12, 2021) – Some apprenticeship programs are now considered qualified expenses for funds saved through the CollegeChoice 529 Savings Plan, according to State Reps. Matt Hostettler (R-Patoka) and Wendy McNamara (R-Evansville).

As of Dec. 31, 2020, Hoosiers in House District 64 and House District 76 saved over $346 million combined through the CollegeChoice program for more than 26,000 students to pay for a traditional four-year college or technical school. Hostettler said these accounts can now be used to pay for a qualified apprenticeship program.

"The need for skilled trade workers throughout Indiana continues to grow each year, and now Hoosiers can use 529 funds for vocational education in addition to college or universities," Hostettler said. "With apprenticeships now an eligible expense, Indiana may see more students explore trade-based programs and fill in-demand jobs."

According to McNamara, 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.

"Education after high school comes in many different forms and is up to the student to decide which pathway is best for them based on their career ambitions," McNamara said. "Under the recent expansion, Hoosiers wanting to pursue apprenticeship programs can now utilize funds from their CollegeChoice 529 Savings Plan, making trade school an affordable option."

Hostettler and McNamara 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.

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State Rep. Matt Hostettler (R-Patoka) represents House District 64,
which includes Gibson County and portions of Knox, Pike, Vanderburgh and Posey counties.
Click here to download a high-resolution photo.

State Rep. Wendy McNamara (R-Evansville) represents House District 76, 
which includes portions of Posey and Vanderburgh counties.

Click here to download a high-resolution photo.