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Saving for Education in Montana Just Got More Affordable

Saving for Education in Montana Just Got More Affordable

Achieve Montana offers lower savings fees through continued partnership with Ascensus

Helena, Mont., September 20, 2023 – With a goal of helping families and individuals save for education costs, Achieve Montana is excited to announce a 28% drop in fees thanks to an ongoing partnership with leading service provider, Ascensus. Stacking on top of the plan’s already impressive tax benefits and flexible investment options, this reduction in fees will go a long way in ensuring that every Montanan has a simple and affordable way to save for higher education. 

“As costs continue to rise, saving for anything these days can be difficult for many families,” said Clayton Christian, Montana Commissioner of Higher Education. “But there’s no doubt that a college education continues to be the best investment a family can make in securing a bright future for their child. With a reduction in fees, more families than ever before will be able to save for college and future education-related expenses through Achieve Montana.” 

As Montana’s official 529 plan, Achieve Montana is a tax-advantaged savings program that helps individuals pay for education-related expenses, including tuition, fees, books, and even certain room and board costs. And contrary to popular belief, it’s not just for college and not just for children! While 529 savings plans are most commonly associated with eligible two and four-year universities, funds in an Achieve Montana account can also be used toward qualifying K-12 education expenses, trade schools, apprenticeships, technical training, and even certain education loan repayments. 

“After working alongside Achieve Montana for years, we are excited to continue a partnership that results in even lower fees,” added Peg Creonte, President of Ascensus Government Savings. “Our goal has always been to help states meet their residents exactly where they are in their savings journey – providing savings solutions that are efficient, effective, and flexible. We’re looking forward to being a part Achieve Montana’s growth for years to come!” 

Whether you’re looking to invest in yourself or a loved one, saving with Achieve Montana is easy. For just $25, you can open an Achieve Montana account and start saving today (it only takes 10 minutes to enroll online). Not only do all potential earnings grow tax deferred, but Montana taxpayers are also eligible for special tax benefits at the end of the year! To learn more and get started, visit achievemontana.com. 

About Achieve Montana:

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 you 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. 

About Ascensus: 

Ascensus is a market-leading enabler of tax-advantaged savings—providing technology, services, and expertise that help more than 15 million people save for a better future. The company is a premier savings program service provider, third-party administrator, and government savings facilitator. Its platforms, industry knowledge, and data-based insights enhance the growth and success of its partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships. Ascensus offers comprehensive qualified and nonqualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, health savings administration, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services. The company’s brands include Ascensus; Newport, an Ascensus company; and FuturePlan by Ascensus. Ascensus has more than $742 billion in assets under administration and employs more than 5,600 associates as of June 30, 2023. 

For more information, visit ascensus.com and newportgroup.com. 

A picture of a diploma and mortarboard next to stacked coins.

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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 $25 minimum. Go to upromise.com to learn more about Upromise.
Upromise and the Upromise logo are registered service marks of Upromise, Inc. Ugift is a registered service mark of Ascensus Broker Dealer Services, Inc., an affiliate of Ascensus College Savings Recordkeeping Services, LLC.
Vanguard is a registered mark of The Vanguard Group, Inc. All other trademarks, service marks or registered trademarks are the property of their respective owners. Used with permission.