Can 529 plans be used for overseas education?

I have two small children. I have been considering setting up a 529 plan for them. The problem is that I am Irish and my children are automatically Irish citizens. I'm concerned that they may choose to go to college in Ireland instead of the US. If they did, would they be able to use the 529 plan money for an Irish college? If no, is there another college saving option?|||Well, it depends. I found this from http://www.collegeadvantage.com/cms.aspx鈥?/a>





"Eligible educational institutions are defined under Section 529 generally as accredited post-secondary educational institutions offering credit toward a bachelor鈥檚 degree, an associate鈥檚 degree, a graduate level or professional degree, or another recognized post-secondary credential. Certain proprietary institutions and post-secondary vocational institutions and certain institutions located in foreign countries are Eligible Educational Institutions. To be an eligible educational institution, the institution must be eligible to participate in U.S. Department of Education student aid programs."


More than likely the school in Ireland will not qualify. I am guessing though that if you went through an American school and did the Study Abroad program then it will work.


An alternative would be to put your money in a Coverdell Education Savings account but I can't tell if it would work outside of the USA.





The best thing would be to talk to your local tax man.