Nebraska families can now use NEST 529 education savings accounts to pay for a wider range of career training programs under a new state law that took effect Thursday.
Earlier this year, Governor Jim Pillen signed LB 748, expanding eligible uses for NEST 529 funds beyond traditional college degrees. The new law allows account holders to pay for approved credential and workforce training programs in high-demand fields such as electrical work, automotive repair, welding, manufacturing, HVAC, commercial driver’s license training, health care, information technology, carpentry, and construction.
Nebraska State Treasurer Joey Spellerberg says the change gives families more flexibility while helping address the state’s workforce needs.
“Not every successful career begins with a four-year college degree,” Spellerberg said. “Whether a student chooses college, technical training, or an industry-recognized credential, NEST 529 can help them reach that goal.”
The Nebraska State Treasurer’s Office administers the NEST 529 program, which now includes about 307,000 tax-advantaged savings accounts with more than $8 billion in assets.
State officials say more than 22 percent of Nebraskans under the age of 18 have a NEST account, making it one of the nation’s most widely used state-sponsored education savings programs.