10 states where you can stretch your 529 on private school

Personal Finance

If you’re looking for an affordable private school education, look no further than Nebraska.

The Cornhusker State is home to the lowest average tuition for private elementary and high school, according to the Private School Review, a site that gathers data on private institutions across the country.

In Nebraska, the average cost of private school during the 2017 to 2018 year was $3,155. In comparison, the national average was more than three times higher: $10,302.

On the other side of the spectrum, you can find the most costly private schools in Connecticut. There, the average private school tuition clocks in at $24,171.

Also, parents now have a new tool in the arsenal for tackling the cost of a private K-12 education: Their 529 college savings plans.

The Tax Cuts and Jobs Act makes these accounts – in which families can save free of taxes and can tap them for educational expenses – available for private school and not just college costs.

Further, over 30 states offer a tax deduction for households that contribute to a 529 plan.

See below for the nine other states with the lowest private school tuition costs.

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