Over the last several years, some of the rules for 529 accounts - previously narrowly targeted to saving and paying for college - have been relaxed. Funds in 529 accounts can now be used for K-12 tuition (up to $10k/year), vocational school tuition, apprenticeships, student loan repayment (up to $10k), and adult continuing education classes. Any leftover funds can be transferred to another qualified beneficiary or contributed to a Roth IRA (up to a lifetime limit of $35k). There are other details to consider with some of these alternatives, and state rules vary with regards to tax exemption at the state level and should be carefully reviewed if you are considering any of these newer options.