Parents, grandparents or even family friends can open a NextGen 529 account. You can even open a NextGen 529 account for yourself and pursue your own post-secondary education!
NextGen 529 offers multiple investment choices. You can change your existing investment allocations twice per calendar year and upon a change of beneficiary. You can change the allocation of future contributions at any time.
Assets in a NextGen 529 account may be used at any U.S. accredited post-secondary institution. Accredited institutions are those eligible to participate in federal financial aid programs, and include some foreign institutions.
You can also use up to $10,000 per year from your 529 account for the same beneficiary for elementary or secondary public, private or religious school tuition.
For distributions starting in 2019, qualified expenses also include (1) expenses for fees, books, supplies, and equipment required for the participation of a beneficiary in an apprenticeship program registered and certified with the Secretary of Labor under the National Apprenticeship Act; and (2) amounts paid as principal or interest on any qualified education loans of either the beneficiary or sibling of the beneficiary, up to a lifetime maximum of $10,000 per individual.