State Sen. Rachel Crowe has sponsored legislation that recently passed the state Senate that would permit families to cover K-12 education costs with qualified tuition plan funds. | Photo Courtesy of Rachel Crowe Facebook
State Sen. Rachel Crowe has sponsored legislation that recently passed the state Senate that would permit families to cover K-12 education costs with qualified tuition plan funds. | Photo Courtesy of Rachel Crowe Facebook
The Illinois State Senate recently passed a bill that would enable families to use money from their qualified tuition plans — often called 529 funds — to cover the expenses associated with K-12 educational and apprenticeship supplies.
Sen Rachel Crowe (D-Glen Carbon), Senate Bill 558’s sponsor, recently took to her official Facebook page to emphasize the impact the legislation could have on Illinoisan families.
“When several local public schools opted for e-learning during the pandemic, many residents asked my office about using qualified tuition funds for tuition at private K-12 institutions,” Crowe said in her April 24 post. “I'm proud to say my proposal giving families the choice to use their savings to cover the cost for K-12 tuition as well as apprenticeship supplies passed the Senate this week and moves for further consideration in the House. “
Qualified tuition plans enable state residents to make contributions to a 529 investment account in order to cover the costs of future higher education expenses, including tuition, mandatory fees, and room and board, according to a press release from Crowe’s official website.
Senate Bill 558 would expand the expenses that can be paid from such an account to include enrollment at an elementary or secondary public, private, or religious school, as well as fees, books, supplies and equipment required for apprenticeship programs.
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