President Trump signed the Setting Every Community Up for Retirement (SECURE) Act
President Trump signed the Setting Every Community Up for Retirement (SECURE) Act on December 20, 2019, which makes several changes affecting 529 plans.1) Qualified higher education expenses (QHEE) includes costs of apprenticeship programs.2) Qualified higher education expenses (QHEE) includes student loan payments, with an aggregate lifetime limit of $10,000 in qualified student loan repayments per 529 plan beneficiary and $10,000 per each of the beneficiary's siblings.Also under the SECURE Act, the 2018 changes to the Kiddie Tax have been repealed. A child’s tax rates on unearned income from taxable scholarships and dividends and capital gains from custodial accounts are reverted to the rates that were in effect before 2018.