On December 20, 2019, the federal Further Consolidated Appropriations Act of 2020 was signed into law. It includes new provisions that allow
529 Plan account owners to withdraw assets to pay for certain apprenticeship programs and to pay principal and interest on qualified higher
education loans for the beneficiary or any of the beneficiary's siblings. The loan repayment provisions apply to repayments up to $10,000 per
individual. These withdrawals will have no federal tax impact.
This Act is effective for distributions made after December 31, 2018.
If you have any questions about the Oklahoma Dream 529 Plan, please contact us at 1-877-529-9299 Monday through Friday from 7:30 a.m. - 5:00 p.m., Central Time.