College Savings for Jewish Day Schools
When the new tax bill was signed into U.S. law by President Donald Trump on Dec. 22, an unexpected constituency benefited: parents who send their kids to Jewish day schools. Until now, the college savings plans known by their tax codes, 529s, could only be used for college tuition. But as of January 1, up to $10,000 may be withdrawn annually from the tax-free plans to help pay for private school. Parochial schools are celebrating the change. Is this is a victory for those who believe in “school choice?” Does this mean it’s a loss for public education advocates? Click here for an analysis.