McConnell's proposal for pandemic relief would allow parents of K-12 students at public or private schools to use 529 college savings funds to pay for books, online materials and even tutoring to help compensate for the current educational circumstances.
It would also allow parents to use those funds for expenses related to home schooling or suddenly popular "learning pods."
Three years ago, the Tax Cuts and Jobs Act expanded the use of 529 plans, which offer tax-advantaged investments to pay for qualified education expenses, to include private-school tuition and books from elementary through high school.
Since then, and even through the coronavirus crisis, 529 college savings plans have gained momentum.
Of course, there are still many parents who don't have this type of college savings account.
Mitch McConnell, Sallie Mae, There's, Paul Curley
College Savings, ISS Market