STATEHOUSE (March 22, 2021) – Some apprenticeship programs are now considered qualified expenses for funds saved through the CollegeChoice 529 Savings Plan, according to State Rep. Cindy Ledbetter (R-Newburgh).
As of Dec. 31, 2020, Hoosiers in House District 75 saved over $102 million through the CollegeChoice program for more than 6,000 students to pay for a traditional four-year college or technical school. Ledbetter said these accounts can now be used to pay for a qualified apprenticeship program.
"Many students feel like the only option they have after high school is to get a college degree, but trades professionals are needed more and more each day," Ledbetter said. "Regardless of the path students choose, the recent expansion of the CollegeChoice 529 Savings Plan offers more options for parents to invest in their child's education."
According to Ledbetter, 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.
Ledbetter 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. Cindy Ledbetter (R-Newburgh) represents House District 75,
which includes portions of Pike, Spencer and Warrick counties.
Click here to download a high-resolution photo.
