How Saving for College Can Improve Your Child’s Future – Achieve Montana pixel
September is College Savings Month

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How Saving for College Can Improve Your Child’s Future

September is College Savings MonthThe high cost of college and rising student loan debt that many students face have become popular headlines in the news lately. That is because student loan debt is skyrocketing and is now the second-highest debt Americans have behind their mortgage – totaling nearly $1.5 trillion in overall student loan debt.* This means the average American spends approximately $393 every month paying off their student loans.** Parents may wonder what they can do to mitigate these costs and help their children avoid financial pitfalls. Fortunately, 529 accounts offer families solutions.

Best Way to Save for College

September is college savings month. It’s a time to bring awareness to families who dream of sending their children to college and let them know that they have options. Options such as opening an Achieve Montana 529 plan account, allow parents one of the best ways to save for their child’s future college education. 529 plans are tax-advantaged savings programs that let parents take advantage of growing their account earnings deferred from both federal and state taxes.

529 plans have many benefits:

  1. Less reliance on student loans. The longer a parent contributes to their child’s college savings account, the more a child will have to use when it’s time to go to college. (That’s why it pays to not procrastinate and start saving as early as possible.)
  2. A variety of uses. Money in your account can be used towards any qualified college, university, vocational school, or other postsecondary educational institution, apprenticeship program expenses, and K-12 tuition too.
  3. Easy to get started. Setting up a 529 plan account with Achieve Montana is easy and affordable. Parents can open accounts for a little as $25 or $15 with payroll deduction, where available.


It’s Always a Good Time to Start Saving

College savings accounts have many more advantages. Investing in a 529 plan as soon as possible can be a win for parents planning for their children’s future education expenses. The important thing for parents to remember is that it’s never too late to start saving for college. By opening a 529 plan account today, parents can help their children avoid student loan debt tomorrow.

To learn more about how Achieve Montana offers solutions that help families grow their college savings for their children’s future education, download an Enrollment Kit at or call 877.486.9271. Find them at:


The Enrollment Kit includes a Program Description that discusses investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.

Except to the extent of the New York Life Insurance Company guarantee that is available for the Capital Preservation Portfolio and certain of the Year of Enrollment Portfolios, investment returns are not guaranteed, and you could lose money by investing in Achieve Montana.

*What Is a 529 Plan? (2020, May 26). Achieve Montana. Retrieved 4 March 2021, from (as cited in Friedman, Student Loan Debt Statistics in 2018: A $1.5 trillion crisis).

** What Is a 529 Plan? (2020, May 26). Achieve Montana. Retrieved 4 March 2021, from (as cited in Board of Governors of the Federal Reserve System Report on the Economic Well-Being of U.S. Households in 2016- May 2017).