STATEHOUSE (March 3, 2021) – Several apprenticeship programs are now considered qualified expenses for funds saved through the CollegeChoice 529 Savings Plan, according to State Rep. Joanna King (R-Middlebury).
The plans help families save for future education expenses, and as of Dec. 31, 2020, Hoosiers in House District 49 saved over $97 million through the CollegeChoice program for more than 7,000 students to pay for a traditional four-year college or technical school. King said these accounts can now be used to pay for a qualified apprenticeship program.
"Opening a CollegeChoice 529 Savings Plan is a great way to be better prepared for paying for college or an apprenticeship program," King said. "They offer tax advantages and anyone, like a grandparent or aunt, can contribute to an open account."
According to King, 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.
King 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. Joanna King (R-Middlebury) represents House District 49, which includes the eastern portion of Elkhart County.
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