Achieve Montana – Montana 529 College Savings Plan
About: Achieve Montana is a Montana 529 plan administered by the Montana Board of Regents of Higher Education (the trustee of the Montana Family Education Savings Trust). Achieve Montana offers special advantages including: tax-deferred growth, generous contribution limits, and professional investment management.
Phone #: 1-800-888-2723
Investment Options: An age-based option, comprised of five portfolios, moves investments automatically from one portfolio to progressively more conservative investments as the beneficiary approaches college age.Investors can select among six portfolios, Aggressive, Growth, Moderate, Conservative, Income and an FDIC-insured savings option. Investments are managed by Vanguard and DFA funds.
Tax Benefits: Contributions to Montana AND non-Montana 529 plans of up to $3,000 per year by an individual, and up to $6,000 per year by a married couple filing jointly, are deductible in computing Montana taxable income. Only contributions made by the account owner, the account owner’s spouse, or the account owner’s custodian/parent are deductible. Contribution deadline is December 31.
State Residency Requirements: No state residency is required to participate in Montana 529 College Savings Plans.
Saving for College with Upromise
Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.
Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.
Once you join Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ to 25% back that is credited to your account. There are more than 600 online retailers, including Target and more, which will give you rewards that can be used for college and tuition expenses.
The beauty of the Upromise program is that you save money for college by simply shopping at the normal stores you visit every day. Upromise was created in partnership with Sallie Mae and is designed to help save for education costs.