Why This Matters
The Application Fees Act lets families pay college application fees using money from 529 savings plans, making it easier to afford college applications.
If you have a 529 plan, you can now use it to pay for college application fees.
Affects: Families saving for college expenses through 529 plans will benefit from this change.
What changes is this bill making?
1. This bill allows families to use 529 plans for college application fees. 2. It adds application fees to the list of eligible expenses for 529 plans. 3. The change helps students cover costs when applying to colleges. 4. It applies to distributions made after the bill is enacted.
Who is affected?
Families saving for college expenses through 529 plans will benefit from this change.