Summer Saving Habits Can Lead to Future Success with 529 College Savings Plan

For Immediate Release
Contact: Joanie Griffin

Santa Fe, NM – June 16, 2022 – This summer many families are planning and saving money for vacations and fun activities. The Education Plan®, a 529 college savings plan, encourages families to save for higher education throughout the summer months in addition to summer entertainment and vacation. 

 “While you’re saving for your vacation, consider saving extra for your future education needs or those of your children,” said Natalie Cordova, Executive Director of Education Trust Board of New Mexico, the state agency that administers The Education Plan® 529 savings plan. “Whether your children are just starting school or nearing high school graduation, it’s a great time to plan ahead to ease the burden of education-related expenses and debt.” 

529 college savings plans can be opened for as little as one dollar and can be added to at any time, as the account holder is able. Even small contributions add up, and the earlier an account is opened in a child’s life, the more the account can grow through compounding. 

“While beginning an account early in life is ideal, an account can be opened at any time—for any beneficiary,” added Cordova. “This summer, while you invest in fun activities for you and your family, consider also investing in their future success, as studies show students with at least $500 saved for college are three times as likely to go to college and four times as likely to graduate. With higher education linked to greater job opportunities and higher-paying salaries, a 529 college savings plan helps you prepare for a brighter future for you and your loved ones.”  

529s can be used to pay qualified education expenses including tuition, books, supplies, housing, meal plans, and computers at four-year universities, community colleges, career and technical schools, and registered apprenticeships. 

To learn more about the Education Plan® or to set up your account this summer, visit or call 1(877) 337-5268.


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For more information about The Education Plan, call 1.877.337.5268 or view the Plan Description and Participation Agreement, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.

Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You also should consult a financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 plan(s), or any other 529 plan, to learn more about those plan’s features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The Education Plan is administered by The Education Trust Board of New Mexico. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-today operations, including investment advisory, recordkeeping and administrative services. The Education Plan’s portfolios invest in: (i) mutual funds; (ii) exchange traded funds; and/or (iii) a funding agreement issued by New York Life. Investments in The Education Plan are not insured by the FDIC. Units of the portfolios are municipal securities and the value of units will vary with market conditions.

Investment returns will vary depending upon the performance of the portfolios you choose. You could lose all or a portion of your money by investing in The Education Plan depending on market conditions. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.

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The Education Plan® and The Education Plan® Logo are registered trademarks of The Education Trust Board of New Mexico used under license.

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Not FDIC-Insured. No Bank, State or Federal Guarantee. May Lose Value.