How to Plan for Your Kid’s Changing Dreams.

What do you want to be when you grow up?

When asked that classic question, kids come up with all kinds of answers: a firefighter, a musician, a dinosaur expert. And their answers can change at the drop of a hat, literally. Give them a new costume hat and they’ve got a new dream job. That means when Halloween rolls around, the costume aisle at your local store turns into a career fair.

But kids changing their minds is a good thing. When they explore different interests and cycle through activities and hobbies, it means they’re exploring the world around them and building their identity. And when you save for their future education with an Embark 529 account, you can support whatever path they settle on.

What an Embark 529 account actually covers.

The money in your Embark account grows tax-free, and you can withdraw it for qualified educational expenses tax-free too. So, what counts as a qualified expense?


Educational paths to match their dreams.

You can pay for a wide range of educational paths with Embark. In addition to a traditional 4-year college degree, Embark funds can go towards trade school, graduate school, certification programs, and apprenticeships.

In fact, you can use your funds at any accredited institution that accepts Title IV federal student aid from the U.S. Department of Education. This even includes some schools abroad. So whether it’s a welding program at your local community college or an international business program in Paris, your Embark funds can help make it happen.


Additional educational expenses.

When it comes to paying for education, tuition and school fees are only part of the picture. You can also use your Embark funds to help pay for books, materials, school supplies, and even some room and board costs. If your kid needs a new computer or specific software for their educational program, those can also be qualified expenses. So whether your child needs new tools for their apprenticeship or new books for their next class, your savings can lend a hand.

Start early to support their future goals.

You don’t have to know exactly what your kid’s future holds to start saving with Embark. Opening an account early gives your money more time to grow tax-free, so you can build their savings while they figure out what comes next. And when it comes to investing, time can make a huge difference. Check out our calculator tool to see how small amounts can add up over time.

Plus, our Baby Grad and Kinder Grad programs give you a boost for starting early. If you open an account before your child’s first birthday or while they’re in kindergarten, $100 will be automatically added to the account.

When you open an Embark account for your kid’s education, you give them confidence and belief in their future dreams (even if those dreams change ten more times). And you never know, they might become an amazing firefighter, or the next great musician, or even discover a new dinosaur.

A few more details.

1. What happens if my kid receives a scholarship for school?
   If your child earns a scholarship, you can withdraw Embark funds up to the amount of the scholarship without paying taxes or a penalty on the money. It’s that simple!
2. What if my child decides not to go to school or doesn’t use all of the funds?
   Don’t worry! If there are leftover funds in your kid’s account, you have options. You can transfer the money to a sibling’s Embark account, roll it over into a Roth IRA for your kid’s retirement, or withdraw it and pay a tax penalty on the account earnings.
3. How do I open an account?
   You can easily open an Embark account online with a deposit as small as $25. You’ll also need to supply some basic information about yourself as the account holder and your beneficiary.