More MBAs Using 529 Savings Plans to Pay for B-School

Photograph by Mui V. Chao/Getty Images

Congress created 529 plans in 1996 as a way for parents and grandparents to save for a child’s undergraduate college education. Now, a growing number of MBA students are using the tax-deductible savings plans to pay their way through B-school, says Michael Fitzgerald, treasurer of the state of Iowa and president of the College Savings Plans Network, a nonprofit that compiles information on such plans across the country.

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