In an article published by The Wall Street Journal on June 5, 2016, Jamie Canup provides insight on 529 plans, responding to questions asked by readers. Included among the questions was what to do with money left over in a 529 plan funded for a family member, and whether the beneficiary can be changed to someone else and the money used to study a foreign language at a university or language school. Canup explains, “you can change the beneficiary to yourself or to any close relative of the original beneficiary, and you can study languages at a school that’s eligible to receive 529 money.” For the full article, you may click here.
Stephanie A. Hood