Features and Benefits
Features and Benefits
What is a 529 Plan?
A Section 529 qualified tuition program (529 plan) is a tax-advantaged savings program designed to help you save for college. You can use the assets held in your 529 account to pay for your beneficiary’s tuition, fees, books, and certain room and board costs, not only in Montana, but at eligible schools anywhere around the country. Funds from a 529 account can be used at eligible two- and four-year schools, trade and technical institutes, and even graduate schools.
Why 529 Plans?
$393
The average student loan payment is $393 per month.1
#2
Student loan debt is the second-highest debt category behind only mortgage debt.2
$1.5 Trillion
Americans collectively owe $1.5 trillion in student loans.2
6x
Children who know they have college savings accounts are six times more likely to attend college.3
529 Plan
529 savings can be combined with student aid and scholarships to help pay for the full cost of college.