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For many workers just entering the workforce the main area of financial concern is student debt and student loans. It causes struggles for numerous employees across the US. Earlier this year, a few new moves in tax legislation were passed adding opportunities for 529 plans. The first improvement will allow 529 plans to be used to pay for kindergarten through 12th grade for private school tuition. Later, the House will vote on also allowing homeschooling, apprenticeship fees, and most notably, student loans, to all potentially be paid for with 529 plans. In this Money Hacks video, I share some initial thoughts on what this could mean for you if you’re stressed with student loans, or paying for qualifying education programs.
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