Yes, the Gerber 529 Plan can be used for K-12 tuition expenses, thanks to changes introduced by the Tax Cuts and Jobs Act of 2017. Under this provision, families can withdraw up to $10,000 per year tax-free to cover tuition costs at private, public, or religious elementary and secondary schools. This flexibility makes the Gerber 529 Plan an excellent choice for families who want to save for both short-term and long-term educational needs.
It’s important to note that the $10,000 limit applies per beneficiary, not per account. This means that if multiple family members contribute to a child’s Gerber 529 Plan, the total withdrawals for K-12 expenses cannot exceed $10,000 annually. While this cap may seem restrictive, it still provides a valuable opportunity to offset the rising costs of private education.
