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529 Savings Aren’t Just for College!

529 Savings Aren’t Just for College!

Times have changed, so we’re just going to get straight to the point – 529 savings plans aren’t just for college anymore. That’s right, we said it! And more parents need to hear it. We repeat: 529 savings can be used FOR MORE than just college! Is your student interested in becoming a carpenter? What about pursuing a trade as a dental hygienist or digital animator? Are you considering sending your kids to a private elementary or secondary school as they get older? A state 529 plan can cover all of this and more! With an Achieve Montana 529 savings plan account, your savings today can encourage your kids to pave their own way tomorrow – even, and especially, if that doesn’t include a typical college education. Designed for tax benefits now and savings for the future, Achieve Montana offers a simple and affordable way to save for all of their (and your) future dreams and goals. And, the best part is that savings grow right along with them, no matter how many times they change their mind.

Still on the fence?

Check out all the tax-free ways you can use the funds in an Achieve Montana 529 savings plan account:

Trade Schools

A four-year college degree isn’t the path for everyone, and we love that! Savings in an Achieve Montana account can be used to pursue a post-secondary education at eligible trade schoolsall across the country. In other words, funds can be used to receive the necessary technical training for jobs ranging from medical and electrical to legal and even creative design work!

Apprenticeships

Call it career-seeking, soul-searching, or purpose-finding – whatever the season, an apprenticeship is a great way to receive both on-the-job training and classroom education, while sometimes getting paid. Not only can 529 funds be used to pay for apprenticeship programs, but the savings can also be put toward associated fees, books, supplies, and equipment. To qualify, all apprenticeships must be registered and certified with the Secretary of Labor under the National Apprenticeship Act.

K-12 Tuition

Education matters even when they’re little. Achieve Montana participants can use up to $10,000 annually for tuition at elementary or secondary public, private, and religious schools.

Education-Related Expenses

We’ve said it once, but it’s so good that it’s worth mentioning twice! Funds in an Achieve Montana account can be used toward a variety of eligible education expenses, including tuition, mandatory fees, books and supplies, equipment, room and board costs, and even certain expenses for a special-needs student. Learn more about qualifying expenses on our FAQ page.

College & Graduate School

Four-year or two-year. In-state or out-of-state. Public or private. Whatever their career path (or yours), savings in a 529 account can be used toward tuition expenses at eligible colleges and graduate schools nationwide. If you can dream it, Achieve Montana can help you save for it!

Loan Repayment

We hate to admit it, but statistics tell us that student loan debt is the second-highest debt category in the nation. With an Achieve Montana 529 savings plan, you can both reduce that burden and use up to $10,000 (lifetime limit per individual) toward the repayment of principal or interest on qualified education loans of a beneficiary or a beneficiary’s sibling. Learn more.

Continuing Education

You know what they say – learning is for a lifetime. And, we’re right there with them! While you may not be able to imagine it now, funds in an Achieve Montana account can go a long way in furthering your career later on down the road. Think about professional development programs and certifications like EMS training, teaching certificates, online courses, and more!

At the end of the day, their future isn’t limited, and neither are the ways you can save.

Learn more about Achieve Montana and open a savings account for as little as $25 today.

For more information about Achieve Montana, download an Enrollment Kit at achievemontana.com or call 877.486.9271. 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.

If you are not a Montana taxpayer, consider before investing whether your or the beneficiary’s home state offers any state tax or other benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program.

Achieve Montana is sponsored by the State of Montana and administered by the Montana Board of Regents of Higher Education, as sole trustee of the Montana Family Education Savings Trust. Ascensus College Savings Recordkeeping Services, LLC provides program management, recordkeeping and administrative support services for Achieve Montana. Blackrock Fund Advisors, Dimensional Fund Advisors LP, Charles Schwab Investment Management, Inc., New York Life Insurance Company and the Vanguard Group, Inc. each provide investment management services for the underlying investments comprising Achieve Montana’s portfolios.

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.

Make room under the tree for a 529 college savings plan.

The sounds of their little feet racing down the stairs. The giggles of excitement as they spot their name under the tree. The overwhelming joy they experience opening a gift bought just for them. As parents, the magic of Christmas isn’t found in the getting, but in the giving. So, why wait? This holiday season, light up their future with an Achieve Montana 529 college savings account. It may not be the biggest gift under the tree, but it’s sure to be the brightest! And it’ll certainly last longer than that box of toys.

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November 15, 2023 No Comments

Practical Ways to Save

When it comes to life, we love a good cheat sheet. And the same goes for college savings! While an Achieve Montana 529 savings account is the ultimate college savings tool (hello low minimums and tax-free withdrawals), it’s still just that – a tool. The true savings start with you! And with these practical savings tips, your journey can start today! Check out these quick and easy ways to get the most out of your 529 savings account.

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October 9, 2023 No Comments

529 Savings Myths: BUSTED!

There are a lot of misconceptions out there when it comes to opening a 529 savings plan. And, we get it! Setting aside money and intentionally planning for your child’s future (or even your own) can be intimidating. Heck, we’re intimidated even saying it! But the truth is that it doesn’t have to be.

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September 29, 2023 No Comments
For more information about Achieve Montana, call 877.486.9271 or download an Enrollment Kit. 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.
If you are not a Montana taxpayer, before investing in Achieve Montana, you should consider the benefits of your home state’s qualified tuition program. It may provide taxpayers with state tax and other benefits such as financial aid, scholarship funds and protection from creditors, that are only available through your home state’s qualified tuition program. You should also consult your financial, tax, or other advisor to learn how state-based benefits (or limitations) would apply to your specific circumstances. Tax and other penalties may apply to non-qualified withdrawals.
Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision. In addition, you should periodically assess, and if appropriate, adjust your Section 529 Plan investment choices with your time horizon, risk tolerance and investment objectives in mind.
Achieve Montana is sponsored by the State of Montana and administered by the Montana Board of Regents of Higher Education, as sole trustee of the Montana Family Education Savings Trust (Trust). Ascensus College Savings Recordkeeping Services, LLC serves as program manager and provides recordkeeping and administrative support services for Achieve Montana. Blackrock Fund Advisors, Dimensional Fund Advisors LP, Charles Schwab Investment Management, Inc., New York Life Insurance Company and the Vanguard Group, Inc. each provide investment management services for the underlying investments comprising Achieve Montana’s portfolios. Although some of the portfolios invest in mutual funds, they are not mutual funds. When you invest in Achieve Montana, you are purchasing portfolio units issued by the Trust. Except to the extent of the New York Life Insurance Company guarantee that is available for the Capital Preservation Portfolio and certain Year of Enrollment Portfolios, investment returns are not guaranteed, and you could lose money by investing in Achieve Montana. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.
Upromise is an optional service offered by Upromise, Inc., is separate from Achieve Montana, and is not affiliated with the State of Montana. Terms and conditions apply to the Upromise service. Participating companies, contribution levels, and terms and conditions are subject to change at any time without notice. Transfers from Upromise to an Achieve Montana account are subject to a minimum amount. Go to upromise.com to learn more about Upromise. 
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