You’ve been saving for years in a 529 plan, which lets you fund your child's college costs tax-free. But what happens if your kid doesn’t go to college? Will you face a steep tax bill?

Not to worry. Money in a 529 account can be used tax-free for many types of schooling, not just expenses at a four-year college. And there are several ways you can use those savings, even if your child doesn’t pursue any type of higher education.

Read more at U.S. News and World Report.