Under the new tax law, parents may now withdraw up to $ 10,000 per year to pay for K-12 private school tuition. Formerly 529 funds could only be used for college. The new law allows withdrawal for college expenses up to the full amount of tuition.
Not all good news however for large Catholic High Schools with endowment income that may now be subject to a new 1.4% excise tax.
Click on the happy student to read the NY Times article.