Kristen Moon, the founder of MoonPrep.com, explains in this article the purpose of the “gap year” and the financial benefits of 529 College Savings Plans. One unexpected use of 529 Plans is funding a gap year, through qualifying programs. Outward Bound itself, for example, has a partnership with Western State Colorado University. Harvard, Tufts, Princeton, the University of North Carolina-Chapel Hill: all of these institutions have gap year programs, and many of these programs can accept 529 Plan funds, and may also have scholarships, financial aid and other resources available.
Read Kristen’s full article in Outward Bound here.
