Turning points. Crossroads. Landmarks. Transformations. Milestones. These are all special moments in our lives that signify new beginnings. Right now is an exciting time of new beginnings for graduates everywhere as they shift from being high school seniors to being college scholars. Across Montana, families are gearing up for celebrations that honor these milestones and achievements.
At Achieve Montana, we're celebrating too. We are celebrating because we know that when parents open an Achieve Montana 529 college savings account, they are ultimately taking advantage of one of the best ways to help cover college costs for their child's future education.
With an Achieve Montana 529 college savings account, parents can: open a college savings account for as little as $25 or $15 with payroll deduction, choose from a variety of investment options that best suit their family's needs and goals, get tax advantages that include a state income tax benefit, allow contributions to their child's Achieve Montana account from anyone, such as relatives and friends, and have peace of mind knowing that the sooner they start saving, the more resources their child will have to spend towards college expenses.
Enrolling in a 529 college savings account means your child will be able to reduce their reliance on student loans. It also means that your child may use the funds towards the cost of almost any college, university, vocational school, or other postsecondary educational institution anywhere. And, if your child chooses not to attend college, as a parent, you may name another beneficiary within your family to benefit from the account. Beneficiaries can be another child, adult, or even yourself!
In a way, starting a 529 college savings account and saving for your child's education is like planning a future celebration: close friends and family should be invited to help, everyone needs to be committed to the best possible outcome, and at the end of everything, someone will be coming out a winner. Though we can't personally plan the celebrations and milestone moments in your life, we can absolutely help you save for your child's future education every step of the way.
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 achievemontana.com or call 877.486.9271.
Ronald Muffick is director of operations and administration in the Office of the Commissioner of Higher Education Montana University System.