College Inside Track President Chris Wills was featured on KSTP TV discussing how the new tax code may affect college planning.

Among the changes:

  • Minnesota residents can now qualify for a tax deduction or tax credit, depending on their income level, for making contributions to a 529 college savings plan.
  • Families can now withdraw up to $10,000 per year from 529 Plans for qualified K-12 tuition expenses
  • Home equity interest is no longer deductible, making that strategy to pay for college less desirable
  • Up to $15,000 per year can be transferred without penalty from 529 Plans into ABLE accounts for people living with disabilities.

Watch the full clip here.

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