As with any big journey, it helps to start with a plan. Saving for higher education - whether for your children, grandchildren, relatives, or even yourself - is no exception. It is never too late to start saving in a 529 plan, but the earlier you start, the more time your money will have to work for you.
A 529 plan, like the Montana Family Education Savings Program Investment Plan (MFESP Investment Plan or Investment Plan), is a tax-advantaged program created to help families like yours save for future education expenses. The name, "529," comes from Section 529 of the Internal Revenue Code that specifies plan tax advantages.
In this section you will find information on what 529 plans are and their benefits (including tax advantages). Then you can read about the additional benefits of the Investment Plan, including extra programs that can help you save even more.