Financial Aid Help

• Talk to your parents about starting a savings plan (if they haven’t already). Educational IRAs (Section 529 Savings Plans) are college savings plans, the earnings of which are free of federal income tax if the money is used to pay qualified college expenses. For more information, visit www.collegesavings.org.
• Look into Rural Montana Saves — This program allows families receiving cash assistance (Temporary Assistance to Needy Families – TANF) at any time in the past two years to boost their savings for college tuition or employment-focused training. They may earn a 6-to-1 match on family savings in an Individual Development Account. Participants are required to deposit at least $20 a month into their development account for at least six months. Additional program benefits include personal financial counseling, money management training and employment counseling. For more information, call (800) 546-1140 or e-mail dawnc@reomontana.org.