CSPN Webinar: All about Apprenticeships for 529 Plans
The SECURE Act of 2019 allowed some apprenticeship expenses to be paid out of 529 College Savings Plans. In this webinar, hosted by the College Savings Plan Network, two New America experts explain what apprenticeship is and how to make the most of the new provisions.
Blog Post
May 19, 2020
Participation in Registered Apprenticeship has risen steadily over the past decade as more and more learners have sought affordable, employer-driven educational pathways to well-paid careers. No longer restricted to the building trades, apprenticeships are now available in fields like health care, business, education, and information technology—and can include college coursework or even degrees. But despite their proliferation and burgeoning popularity, apprenticeships still aren't a familiar concept for many Americans.
In December 2019, the SECURE Act was signed into law, amending the Internal Revenue Code to allow certain apprenticeship expenses to be paid out of 529 college savings plans. In this webinar, hosted by the College Savings Plan Network (CSPN)—a nationwide professional network for managers of state-administered college savings plans—Michael Prebil of CESNA and Clare McCann of the Higher Education team provide an overview of apprenticeship's structure, quality assurance system, and possible costs.
New America thanks John Mitchell and Treasurer Michael Frerichs of the Illinois State Treasurer's Office, and Chris Hunter of the National Association of State Treasurers, for the opportunity to engage with CSPN members.
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