You can decide to CHANGE the Beneficiary to someone else–including yourself–without a fee at any time.
As account owner, you have the right to modify the beneficiary at any time. The number of in-family beneficiary changes per year are unlimited. See Appendix 3 for a list of qualified in-family members.
Bob decided to go back to night school MBA at age 40. As the accounts’ owner, he chooses to use the 529 plans he has formed for his two daughters–ages 6 and 4–thinking they won’t need them for a while. Bob changes the beneficiary of each account to himself, uses some of the funds for his school, then in 2 years changes the beneficiaries back to the girls as he finishes. (Bob then uses the raise he gets for his new degree to contribute more money back to the girls–a happy ending!)
No statement or example on this site should be considered a specific recommendation for your personal situation. Investing and tax strategies each carry significant risks. Examples herein may not apply to your situation. Please consult your estate attorney, tax advisor, or financial advisor for personal advice.