Peg Creonte Shares Data on Use of 529 Savings for K-12 Education

In a recent USA Today feature​, Peg Creonte, SVP of business development for our government savings division, shared insight on the usage of 529 account savings for education expenses for beneficiaries in kindergarten through 12th grade. Ascensus data suggests a minor jump in the overall percentage of qualified 529 withdrawals made for beneficiaries ages 16 and under, at 5.5% in 2018 versus just 4% in 2016. Individual states are taking different approaches on how to educate savers on the potential use of 529 savings for K-12 related expenses, notes Creonte. “Some states are neutral…And on the other end of the spectrum, some states are actively encouraging people to use the funds for K-12,” she adds.