How 529 Plans Can Pay for Your Child's Military Service Academy Costs

In Episode 40 of The College Savings Podcast, Lucas and Luna explore a little-known but powerful use of 529 plans: covering the costs of attending a U.S. military service academy like West Point, the Naval Academy, or the Air Force Academy. While tuition is free at these institutions, there are still significant expenses for uniforms, equipment, travel, and supplies that can add up to thousands of dollars per year. Lucas breaks down the specific rules from the IRS and the Tax Cuts and Jobs Act that allow 529 funds to be used for these qualified expenses, including room and board for academy students. They also discuss the strategic advantage of using a 529 plan to supplement an ROTC scholarship at a civilian college. The episode includes a concrete example of a cadet's annual uniform and equipment costs at the Naval Academy, and a warning about the ABLE account alternative for disabled dependents. Tune in for a focused, practical guide to a niche but valuable college savings strategy. #529Plan #MilitaryAcademy #CollegeSavings #WestPoint #NavalAcademy #AirForceAcademy #ROTC #EducationFunding #QualifiedExpenses #TaxCutsAndJobsAct #RoomAndBoard #UniformCosts #FinancialPlanning #PersonalFinance #FexingoBusiness #BusinessPodcast #CollegeSavingsPodcast #LucasAndLuna Keep every episode free: buymeacoffee.com/fexingo