Using a 529 Plan for Trade School: How to Fund Heavy Equipment Training the Smart Way

In recent years, public opinion about traditional 4-year college degrees has shifted as tuition costs continue to rise. Average tuition and fees at public 4-year schools have increased by 84% between the 1999-2000 and 2019-2020 academic years, far outpacing the 15.7% increase in median household income during this period.

Because of these rising costs, there has been a growing demand for skilled trades, which is why many parents and students are left wondering if they can utilize their 529 plan for trade school. People often assume that 529 plans are only for universities, but they are perfect for funding heavy equipment training. Let’s investigate exactly how to use a 529 plan for heavy equipment training from PTS.

A Closer Look at 529 Plans

A 529 plan is a state-sponsored, tax-advantaged education savings plan that is designed to encourage parents and students to save for educational expenses, like college tuition and student-loan repayments.

Benefits of these plans include state income tax deductions or even credits for contributions, and withdrawals are also tax-free if used for specific, qualified education expenses. These qualified expenses include:

• Tuition
• Required safety gear and supplies, like boots and clothes
• Transportation
• Lodging

Many of the students at PTS utilize their funds for lodging and tuition costs.

Now, the important question: Can you use a 529 plan for trade school? The answer is yes, as long as you follow the proper steps.

Using a 529 Plan for Trade School

In addition to traditional 4-year colleges, 529 plans can be used for trade schools, vocational programs, technical colleges, and apprenticeship programs. Once you complete the program application and secure class acceptance, contact your 529 plan administrator and request a withdrawal.

It’s important to keep documentation. This means receipts, enrollment forms, and proof of required equipment. Don’t forget to file your taxes correctly as well, and consult a tax professional if unsure of what to do.

Why More Families Are Using 529 Plans to Fund Trade Careers

Trade programs are becoming more popular because they typically cost a fraction of a traditional 4-year degree, lowering total educational costs. Because many programs can be completed in weeks or months, students can expect faster entry into the workforce as well.

Trade programs typically offer less student loan debt, reducing overall borrowing costs and expense burdens. In addition, skilled operators are in high demand because of continuing infrastructure and construction growth, leading to stronger earning potential and plenty of career development opportunities.

Using a 529 plan for trade school is a smart career move, but it’s important to partner with the right training center. That’s where PTS can help.

How PTS Helps Families Maximize Their 529 Investment

At PTS, we are dedicated to our students’ success. Our expert admissions team will help you confirm eligibility and provide assistance verifying your qualified education status, as well as other documentation needed for your 529 withdrawal.

Additionally, our accelerated training programs will lead to quick completion and fast-track into employment, so you can start earning more, faster. With minimal debt and high earning potential, you can expect a quicker return on your investment and an education that will truly pay off.

Heavy equipment operators can follow several high-demand career paths in construction, infrastructure, mining, transportation, and much more, and the team at PTS will be here every step of the way to support you with our career assistance support.

Now that you know how PTS can help you use a 529 plan for trade school, you need to know what PTS will be teaching you while you’re there. In as little as three weeks, you can be trained to operate a variety of key equipment that will leave you qualified for different job opportunities.

Our courses include:

• Heavy Equipment Operator 1: In this entry-level course, you’ll learn how to operate a variety of equipment types, including skid steers, wheel loaders, compactors, backhoes, and articulated off-road dump trucks. This three-week class will give students an introduction to earthmoving, soils, heavy equipment safety, and preventative maintenance, leaving them qualified to find employment in a variety of industries.
• Heavy Equipment Operator 2: Level up your knowledge with our follow-up course, where you’ll learn how to operate bulldozers, scrapers, excavators, and motor graders. Students will learn about finishing and grading, site work, excavation math, and more, giving them the skills that will be attractive to plenty of employers.
• Mobile Crane Operations: Here, you’ll spend three weeks gaining the fundamental knowledge and skills necessary to find entry-level employment as an NCCCO-certified crane operator. Students will learn how to operate mobile hydraulic telescopic boom swing-cabs and telescopic boom fixed-cab cranes.

If you’re worried about going back to school, don’t be. The courses at PTS include a combination of classroom and in-the-seat instruction, so you’ll feel prepared with the practical experience you need to succeed on the job site. Designed to fuel success, our courses require only a 9th-grade reading and math comprehension level, so you can feel confident completing our program.

At PTS, we serve a variety of individuals. In addition to recent high school graduates, we serve career changers, disabled workers, veterans, and more, and we work with all those individuals to find the best path forward for them.

For over a decade, the team at PTS has provided students with the expert training they need to be credentialed heavy equipment and crane operators. In just three weeks, you can start your career search and find a high-paying job that will help you and your family thrive.

With over 5,400 square feet of space for classroom training and over 15 acres of training grounds, our facility is the perfect place for highly effective heavy equipment and crane operator training. Our team of experienced instructors and admissions professionals are ready to help you start living your best life now.

If you’re looking to start a high-demand career, start with PTS. Our team can help you confirm eligibility, so you can use your 529 plan for trade school and begin your journey towards a better future. Are you ready to verify your 529 eligibility? Speak with an admissions advisor at PTS or schedule a tour of our facility to earn a $500 tuition reduction scholarship.