A 529 college account can be used for college but ALSO for trade and vocational programs as well along with apprenticeship programs.
Should someone create a 529 and have extra money in the account when their student finishes school they have options:
The account beneficiary, the student, can roll over up to $35,000 (in total) to a Roth IRA which they are the beneficiary of, penalty free.
However, as with any Roth IRA, it is subject to the Roth IRA annual contribution limit which is currently $7,500 per year, and requires working wage obligations. That is, you cannot put more into the Roth IRA than has been earned in wages that year.
And, in order to rollover funds from a 529 to a Roth IRA, the 529 account must be older than 15 years. For example, if you started the 529 when your student was 5 years old, when they are 20, money could be rolled out to a Roth IRA for which they are the beneficiary.
If you have extra funds, you can change the beneficiary of the 529 account to yourself, or another immediate family member such as another child, nephew, niece, brother, sister, or grandchild and they may use the remaining qualified 529 funds.
If the beneficiary received a scholarship of any kind while in college, they mayt withdraw up to the same dollar amount as the scholarship from the 529 penalty free. However, the earnings portion of the withdrawal will be subject to federal and state income tax.
Follow beneficiary rules and then use the money for K-12 tuition costs. You must confirm that your state has adopted this federal law.
Make a student loan payment for the beneficiary up to a $10,000 lifetime limit without any penalties or tax consequences.
Withdraw the money and choose to pay a 10% penalty on the earnings, not on your contribution. Earnings will be taxed as well.
10 Things That May Surprise You About 529's @ Vanguard.