ALBUQUERQUE, NM – March 2025 – The application deadline is soon approaching for the third annual Saving for Success Award Program—a New Mexico college savings award program administered by New Mexico Community Trust (NMCT) in partnership with New Mexico Education Trust Board (NMETB) with a mission to make higher education more affordable and accessible, especially to students in New Mexico who have financial need. 

The program is accepting applications from eligible New Mexico students in grades K–8 and awardees will receive an initial award of $1,000 invested into a 529 education savings account with The Education Plan®, a New Mexico 529 education savings plan. The application period will close on April 1, 2025, and award recipients will be notified in May 2025.

The Saving for Success Award will help those students and families that may not be able to save for college and will help with higher education expenses including tuition, books, and room and board at universities, community colleges, trade schools and professional schools.

Funds invested into a 529 plan can be used to pay for qualified education expenses at institutions across the United States.

Students interested in applying for the award will submit their school achievements, honors and awards, community involvement, higher education goals, and other information online. For more information and to apply, visit SavingforSuccessNM.com.

Initial funding for this award program was provided by the Jack Beaty Educational Scholarship Foundation. Additional funding for the current award cycle includes donations from Nusenda Credit Union and other private donors. 

If you are interested in helping to fund the Saving for Success Award, please visit https://go.abqcf.org/nmct-success.
 

New Mexico Community Trust (NMCT) is a tax-exempt public charity created to work in areas not serviced by existing community foundations. NMCT provides financial, investment, donor, and grant management services for communities across the state along with back-office support for multiple community foundations in the state. For more information, visit nmctrust.org. 

The Education Plan® is New Mexico’s Direct 529 Education Savings Plan administered by the New Mexico Education Trust Board. It’s a tax-advantaged way to save for education expenses, including tuition, room and board, books, fees and computer equipment at a four-year university, community college, professional school, or trade school. The money may be used at schools across the US, both traditional and online. Accounts grow tax-free and withdrawals are tax-free if used for qualified higher education expenses. For New Mexico residents, there is an income tax deduction on contributions to an account with The Education Plan. For more information, visit TheEducationPlan.com.