Saving money for a child's college seems like a daunting task, especially when you have to pay bills for rent, utilities, cars, and groceries. Using a $25 loan instant app to save small amounts every week is not an option. But there are a few plans, like Plan 529, that help you save for your child's education costs much earlier, so your child may not have to take out student loans later. In this article, we'll look at how to fit a 529 plan into your savings strategy.

What Is a 529 Plan?
Plan 529 is a savings plan that helps families set tax-deferred money for future education expenses. Earning in a 529 plan is tax-free as long as it is used for education expenses, which also include tuition, room and board, books, and other related expenses. Typically, 529 plans are offered by states or educational institutions.

There are two types of plan 529:
● College savings plans: this type of plan allows you to invest your money in after-tax investments to increase funds over time to pay for future education expenses. The sooner you open a savings account, the longer the funds will grow. You do not have to attend state universities in most states to use the 529 savings plan. But also, do not forget that this is an investment account, so it is associated with some risks, due to which you can lose your money.

● Prepaid tuition plans: this plan allows you to pay for tuition in advance at today's prices. This is usually offered by public colleges and state universities. I would like to add that the federal government does not guarantee these plans, but some states promise to provide funding even if the program runs into financial difficulties. You can pay using this type only for tuition and fees, room and board are not included in this payment. Unfortunately, not all colleges and universities participate, which also limits your child's future choices.

But what about tax-deferred potential? Thanks to the 529 plan, it has more growth potential than a taxable account. We can clearly see this in the graph below. This data is just an example; we don't count any expenses people have. The graphic is presented only for comparing two types: 529 plan and taxable investment account.

How Does a 529 Plan Work?
To open a 529 plan, you will need to choose a plan provider and open an account. Now let's look at how to choose your plan and the next steps which you will follow to learn how to start a 529 plan.

● Step 1: The first thing to do is choose your plan. First, all 50 states, the District of Columbia, and a fair number of brokerage firms offer the 529 plan. You should investigate each benefit to see which is best for your case. It is worth remembering that at least 30 states provide a tax deduction for contributions to this plan, but the rules are different for everyone. State-run plans may have lower limits than those offered by brokerage firms.

● Step 2: The next thing to consider is whether you will open this plan for yourself or, for example, a child or other relative. Because in that case, you'll need information for both of you. First of all, this is your social security number, date of birth and address, and banking information, including your account number and routing number. But if you also open for, for instance, a child, you will also need his social security number and date of birth.

● Step 3: Now we'll move on to enrolling on your state's or brokerage's 529 plan web page. On it, you will see the button "Enroll now" or "Open an account." The order in which information is requested is different for each state. Still, in any case, you will need to enter personal information such as name, date of birth, address, phone number, social security number, and your child or relative if you are not opening this account for yourself.

● Step 4: After you have entered your personal information, you should choose which account you want. Several options will be available to you, depending on which state or brokerage firm's plan you choose.

● Step 5: And so when your plan is selected, you can add funds. The minimum deposit varies from $0 to $3,000, depending on your chosen plan. Each state sets its own minimum deposit and other requirements. Brokerage-administered accounts vary similarly.

● Step 6: The main advantage of the 529 plan is that the money you invest will be invested and will bring you income over time. That's why you also need to choose how to invest your deposits. You can also divide your contribution into several parts and place them in different accounts. For example, you could put 30% of your investment in an index fund, 50% in an aggressive target-date fund, and 20% in a conservative fund.

Why Is It So Important to Save Money for College?
Plan 529 provides several benefits to help families pay for their education costs. I would like to consider several reasons why this is contemplated important:

● Any income in the account is tax-free; withdrawals for qualifying education expenses are also tax-free. This helps account holders save more money over time.
● These plans can be used to pay for the cost of education at any eligible institution, including four-year colleges, community colleges, graduate schools, and so on. This provides families with the choice of the appropriate school for the student.
● More often than not, plans have low minimum investment requirements, making it easy to save money for college, no matter your financial situation.

The Bottom Line
In conclusion, a 529 plan is a valuable investment tool that can help families save for the high cost of higher education and help ensure that their student has the financial resources they need to succeed. With tax-advantaged savings, flexibility in school choice, low minimum investment, and the ability to receive gifts from others, a 529 plan can provide families with a reliable way to save for college and ensure their student has the financial resources they need to succeed. If you are considering saving for your child's education, a 529 plan is definitely worth exploring as an option.

BOZEMAN — A Montana State University undergraduate has won a prestigious fellowship from the National Science Foundation that will support her ongoing research at MSU focused on harnessing optical technology for monitoring water quality and other environmental applications.

Shannon Hamp, a senior who has worked for four years in the lab of Joseph Shaw, was awarded a Graduate Research Fellowship earlier this month. The sought-after fellowship provides funding for three years with a $34,000 annual living stipend plus $12,000 per year to cover tuition and fees. Hamp will use the funding to continue to her research with Shaw while pursuing a graduate degree in optics and photonics.

"I'm really excited to be able to stay at MSU and continue to work with Joe," said Hamp, an electrical engineering major from Broomfield, Colorado, and one of two MSU undergraduates awarded Goldwater scholarships last year.

Shaw, distinguished professor in the Department of Electrical and Computer Engineering in MSU’s Norm Asbjornson College of Engineering, said he was delighted to learn Hamp had received the fellowship. “Nothing makes me happier than to work with students who are as excited and capable and willing to go out and learn new things as she is.”

Hamp’s parents, Charlie and Heidi, met while students at MSU, and Hamp said she has always wanted to study electrical engineering at MSU like her father did. But research wasn’t on her radar until she learned about Shaw’s work focused on lasers and other optics technology. “I was really lucky to be introduced to him as a freshman,” she said. “As soon as heard of what he was doing, I thought, ‘I want to do that.’”

Initially, Hamp worked on a project to measure how light passes through common 3D printing materials, which is valuable information for researchers wanting to 3D-print parts for optics experiments, she explained. That led to her being the lead author on a scientific paper she published with Shaw.

“It’s very unusual for an undergrad to be the lead author on a paper,” said Shaw, who directs MSU’s Optical Technology Center, or OpTeC. “She was definitely the youngest person to have done that in my lab.”

That experience helped launch Hamp into contributing to Shaw’s work with the Consortium for Research on Environmental Water Systems, or CREWS, a $20 million research and education project on water quality in Montana. Hamp has spent the past couple years in Shaw’s lab using specialized cameras that are mounted to drones and can fly over rivers. The cameras, called hyperspectral imagers, measure light in wavelengths beyond what’s visible to the human eye, and certain optical signatures can be used to detect algae associated with excess nitrogen and phosphorus in the water. Besides using her growing optics knowledge, the work pushed Hamp to learn a lot about ecology, she said.

“Shannon has flourished in that cross-disciplinary environment,” said Shaw, noting that she recently won an award for an oral presentation she gave at a water science conference where “it’s not usually electrical engineers who are the star speakers.”

In addition to working in Shaw’s lab, Hamp has also been active with MSU’s Bridger Solar Team, a student organization working to design and build a solar-powered car to compete in a national three-day track race. She is currently president of the student organization.

Going forward, Hamp’s research will take another turn as she partners with Shaw on a new project aimed at helping NASA and the U.S. Geological Survey fine-tune satellite measurements of snowpack that could play an important role in modeling water runoff and the Earth’s changing climate. The project is led by Eric Sproles, assistant professor in MSU's Department of Earth Sciences, and funded by a recently awarded $750,000 NASA Established Program to Stimulate Competitive Research, or EPSCoR, grant. Hamp and others on Shaw’s team will use the drone-mounted hyperspectral imagers to gather data that could help calibrate how satellites measure light reflecting on snow, which is affected by a variety of variables such as surrounding vegetation, slope angle and dirt on the snow surface.

“It’s a little bit of a new direction for us but it’s really exciting,” said Shaw, whose recent research has included studying the optical phenomena of solar eclipses and using lasers to detect pods of invasive lake trout in Yellowstone Lake to aid removal efforts.

Hamp said part of what motivates her for the upcoming project is that, like the water quality research, it connects with larger goals of understanding the environment. She would love to continue to find ways to align her interest and experience in optics with environmental protection, she said. She’s excited that staying at MSU puts her in close contact with Bozeman’s flourishing optics and photonics industry where many MSU graduates find jobs, she added. Her immediate goal is to complete her master’s degree and then possibly continue with a doctorate in electrical engineering at MSU with a focus on optics.

“Shannon has had a lot of success as an undergrad, and I see that continuing into grad school,” Shaw said.

ATLANTA  – The Arthur M. Blank Family Foundation has reached the milestone of committing $1 billion in giving since its inception in 1995. Founded by Arthur M. Blank, notable philanthropist and co-founder of The Home Depot, the foundation has invested in improving lives and communities across the country, predominantly in Georgia and Montana.   

This $1 billion investment has supported nonprofits working on a range of issues. In the foundation’s early years this included early childhood education, parks and greenspaces, the arts, health and fitness, college and career prep, long-term positive revitalization of Atlanta’s Westside, and more. The foundation has worked alongside nonprofit partners to drive meaningful impact through a values-based and outcomes-focused approach to philanthropy. It has connected experts, leaders and community organizations that are committed to solving some of society’s most pressing issues, both locally and nationally.  

In its first year of operation, the foundation approved more than $5 million in grants. Over time, the foundation has supported more than 3,500 nonprofits and has granted more than $670 million in Georgia and more than $28 million in Montana.  

“We are proud to have reached this significant milestone, but this moment is truly a testament to the dedicated service of the thousands of nonprofits we’ve supported over the past two and a half decades,” said Arthur M. Blank, chairman, Arthur M. Blank Family Foundation. “I’m thankful for every current and former associate and board member of the foundation who helped us reach this point, and I know that together with our grantee partners we can continue making a meaningful difference in the lives of others. I look forward to what’s to come and the continued impact we will all make together.” 

Recent grants enabling the foundation to reach this significant milestone include:  

·         $3 million to Boys & Girls Clubs of Metro Atlanta to support its Rising Together campaign to serve more children, more often, with greater impact 

·         $1 million to CARE USA for its Humanitarian Surge Fund, which enables the rapid deployment of staff, equipment and resources when emergencies strike, delivering aid that saves lives while paving the way for long-term recovery 

·         $500,000 from the AMB West Community Fund, a committee funded by the foundation and led by associates at Blank’s ranches in Paradise Valley, Montana, that invests in the local community  

·         $1 million from the Molly Blank Fund to support PJ Library, which provides free books to more than 600,000 Jewish children 

·         $500,000 to The Carter Center to support its Georgia mental health program, as part of the foundation’s new Mental Health & Well-Being giving area 

·         $9.25 million to Energy Foundation to inform policy makers about the benefits of clean energy markets and commitments across regions, as part of the foundation’s new Environment giving area 

·         $1.04 million to Westside Future Fund to support the production of permanently affordable rental housing as part of the foundation’s recent $2.4 million in grants to increase financial security and affordable housing for legacy residents in Atlanta’s historic Westside 

As the Blank Family Foundation surpasses the $1 billion mark in giving, it is preparing to accelerate its philanthropy over the next decade. Guided by the interests of Blank family members serving on the board of directors, the foundation has identified new priority areas of giving: Youth Development, Democracy, Environment, Mental Health & Well-Being and Atlanta’s Westside. In addition to these priority areas of giving, the foundation will continue to oversee a large portfolio of enduring founder-led initiatives. 

About the Arthur M. Blank Family Foundation 

After more than 25 years and $1 billion in giving, the Arthur M. Blank Family Foundation is committed to significantly accelerating the impact of its philanthropy over the next 10+ years. The foundation is currently on a journey of deeper learning and strategy setting for its new priority areas: Youth Development, Democracy, Environment, Mental Health & Well-Being and Atlanta’s Westside. Across these portfolios, the foundation will look for opportunities to address the growing crisis of disconnection in our nation. Geographically, much of the work will continue to prioritize Georgia (with a focus on Atlanta) and Montana, while also considering the potential for greater national impact and influence. 

In addition to the priority areas of giving, the foundation will continue to oversee a large portfolio of grants including support of essential Atlanta nonprofit institutions, such as Children’s Healthcare of Atlanta and Shepherd Center, and enduring founder-led initiatives, such as veterans and the military and stuttering, among others. The foundation will also continue to guide the six associate-led giving committees operating across the Blank Family of Businesses. 

Mr. Blank, chairman of the foundation, co-founded The Home Depot, the world’s largest home improvement retailer, in 1978 and retired from the company as co-chairman in 2001. 

For more information, please visit www.blankfoundation.org. 

The Gallatin County Commission approved using Open Lands Program money to help fund six projects that improve public open lands in Bozeman, Three Forks, West Yellowstone, Big Sky and Four Corners.

On Tuesday, April 18, commissioners voted unanimously to spend $458,223 to provide funding to the following applicants and projects:

• Gallatin Valley Land Trust – East-West Connector trail – $100,000
• Yellowstone Shortline Trail – construction of a nine-mile trail in the West Yellowstone area – $100,000
• Headwaters Trail System – trail surface maintenance – $100,000
• Big Sky Owners Association – Little Coyote Pond and West Fork River restoration project – $100,000
• Eagle Mount – land acquisition for future Eagle Mount programming, infrastructure, community recreation and public access to the Gallagator Trail – $38,928
• Craighead Institute – wildlife habitat and water quality improvements at Gallatin County Regional Park – $19,295

“I’m really impressed with all of the applications,” said Gallatin County Commissioner Jennifer Boyer. “All of these projects are well designed, community-minded, and have incredible support from a variety of partners and agencies.”

Money for these projects comes from the voter-approved Gallatin County Open Space Levy, which was passed in 2018. This year, the levy is estimated to bring in over $2.44 million total.

While a majority of that money funds conservation projects, such as conservation easements for private landowners, over $458,000 was earmarked by the Gallatin County Commission for “other eligible projects.”  These projects must be related to land acquisition, capital improvements, and maintenance projects that support the purpose of the Open Space Levy.

Eleven applications were received during the application period earlier this year. The Open Lands Board scored the submitted proposals and recommended these six projects for approval. 

Commissioner Zach Brown said these “other eligible projects” are a great addition to the Open Lands Program that go beyond traditional conservation easements to help support “all kinds of recreational, open space, and water quality type efforts that benefit our constituents.”

“It’s meaningful to spread the love to different corners of the county,” Brown said.

More information on the projects, including applications and scoring, can be found attached to the commission’s agenda here.

HELENA – The drawings for Montana deer and elk permits and for nonresident combination licenses are complete and applicants can find their results online.
You can see your results by visiting fwp.mt.gov, click on MyFWP Login in the upper righthand corner, then click on Lookup Draw Results, Register for Lists tab on the left-hand menu, or login to your MyFWP account. You may also sign up for an account at myfwp.mt.gov. Applicants may also call any FWP Regional office or the licensing office at 406-444-2950.

For unsuccessful applicants, refunds will come in the form of a check in the mail. If you selected the option for your refund to be donated to the Block Management Program, you will not receive a check in the mail and your full refund amount will be donated.

For successful applicants, if you selected to receive your carcass tag(s) electronically, you may download your carcass tag(s) on your mobile device through your MyFWP account. Do no validate your tag until you have harvested an animal.

Deadline reminders:  The deadline to apply for moose, bighorn sheep, mountain goat and bison is Monday, May 1; the deadline to apply for elk B, deer B, and antelope is Thursday, June 1. All applications must be completed online or at an FWP office. Most FWP offices with license sales are open Monday through Friday, from 8 a.m. to 5 p.m. 

BOZEMAN— A local tradition! The Bozeman Kiwanis Club will provide 50 children’s sandboxes, built by club members, and given to families free of charge, sand included! Sandboxes get our children outside, while socializing and developing creative and constructive skill sets!

The sandboxes will be distributed on the south side of the 100 Acre Park off Oak Street, west of 19th, in the parking lot near the sledding hill. Distribution will be on two Saturdays, June 3rd and 10th from 10 a.m. to 2 p.m., and Thursday, June 8th from 5-7 p.m. The sandboxes are available on a first come, first served basis, until all are distributed. It is very important to bring a vehicle that can accommodate the 5” by 5” wooden boxes and over 1,000 pounds of sand.  It is highly recommended that you protect your vehicle with a tarp or drop cloth for transporting, as the sand is loose. Pick-up trucks or trailer are the best way to transport the boxes and sand. Most cars will not accommodate the box and sand.

The Sandbox Project is one of many the Bozeman Kiwanis Club provides to give back to the
community through various outreach programs. The sandboxes are made possible by the club with support from community donations. Other services the Bozeman Kiwanis provides to the
community include: Local support is also provided for Eagle Mount Camp Braveheart, Big Sky Cancer Kids Spaghetti Feed, Hope for the Holidays, Kids in Crisis Backpacks, Fix-Up Festival, playground equipment, building park pavilions, Thrive, and others, including, Eliminate, which through Kiwanis International has made great strides to eliminate maternal neonatal tetanus. The Bozeman Kiwanis Club has been supporting children and families in the Bozeman and surrounding communities for over 100 years!

If you would like to reserve a sandbox for your family, please email Mary Brydich at
mbrydichkiwanis@aol.com.

BOZEMAN —The City of Bozeman is hosting an annual Independence Day fireworks show. This free show will be on July 4 at 10 p.m. at the Bozeman Softball Complex. All are invited to watch.
 
“We’re looking forward to providing a safe alternative to lighting off personal fireworks,” Fire Chief Josh Waldo stated. “By watching our show instead of lighting them yourself, you can avoid a potential fireworks injury, not be a possible cause of a fire, and limit disruptions to your neighbors and their pets.”

 
The City has never before provided a fireworks show. In past years, the Lion’s Club helped to put on a local fireworks show, and efforts ended in 2019 as the pandemic started.
 
More information will be provided as details come together. Those with questions can call Bozeman Fire at (406) 582-2350.

ENNIS – A partial closure at Eight Mile Ford Fishing Access Site has been lifted.  The boat ramp at this site on the Madison River was closed in February due to unstable ice and hazardous flooding. Ice jams and flooding here have receded, allowing public use of the ramp to resume.  

Partial and full closures are still in effect for some fishing access sites affected by seasonal flooding. To see where site closures and waterbody restrictions are in place, visit fwp.mt.gov/news/current-closures-restrictions. 

As river flows rise this spring, recreationists should keep in mind that dangerous river conditions can arise suddenly, and access roads can also be impacted.  Learn more at fwp.mt.gov/activities/boating.  

The Gallatin County DUI Task Force is hosting the annual Law Enforcement Award Ceremony on Thursday, April 20 at 6 PM in the Gallatin County Courthouse Community Room at 311 W. Main St. in Bozeman.

The top law enforcement officers from each agency with jurisdiction in Gallatin County will be recognized for their efforts and contributions to the identification, arrest, and prosecution of those people who made the decision to drive under the influence of alcohol or other drugs in 2022. The award ceremony is open to the public.

The Gallatin County DUI Task Force is a group of volunteers who are passionate about helping to reduce the incidence of driving under the influence, DUI crashes and deaths related to those committing DUIs. The task force works to increase the awareness of the dangers, implications, and severity of DUIs through education and civic outreach.

 For questions regarding the award ceremony or the DUI Task Force, please contact the DUI Task Force Coordinator at hali.kapperud@gallatin.mt.gov or 406-585-1492.

As temperatures rise and with more snow in the forecast, Gallatin County is beginning to see increased calls for assistance with flooding.  If you are in IMMEDIATE need of assistance with obtaining sandbags, please contact the Gallatin County Sheriff’s Office non-emergency line at 406-582-2100.  We will provide you information on where you can obtain sandbags.  You can also call 211 to be connected to additional resources. And don’t forget to sign up for emergency alerts through the Gallatin County Emergency Management Community Notification System.

Sign up today at www.readygallatin.com!