Celebrate National Savings Day with The Education Plan®

For Immediate Release
Contact: Joanie Griffin
505.261.4444
jgriffin@sunny505.com

SANTA FE, NM - National Savings Day–a day dedicated to celebrating financial wellness and the importance of saving money–is October 12, 2022. A tax-advantaged college savings plan is a great option for anyone to save for future education expenses The Education Plan®, New Mexico’s 529 education savings plan has created a wealth of online planning resources to assist families with saving for higher education.

According to the CSF 2022 State of College Savings Survey, 65% of all parents were saving for their child’s higher education; 46% of all parents had saved at least $5,000 per child and three-quarters of those parents with 529 accounts are saving through recurring – annual, quarterly or monthly – contributions. One-in-five parents prioritize 529s as their primary savings vehicle. According to the College Savings Plans Network (CSPN), there are nearly 16 million 529 account holders across the nation.

“Saving money is one of the most important steps toward financial wellness,” said Natalie Cordova, Executive Director of Education Trust Board of New Mexico, the state agency that administers The Education Plan. “With plans you can customize, add to as you’re able, and build over time, a 529 college savings plan can accommodate any lifestyle and any budget. On National Savings Day, we encourage current and future savers to look at their finances and determine where they can save money to put toward future education plans for themselves or a loved one.”

Saving for secondary education has become a pressing priority, as college tuition has increased by 130% after adjusting for inflation since 1990, according to the Education Data Initiative. Since the pandemic, college tuition and fees have spiked by 4.7% year over year as reported by The Hechinger Report.

“Whether you are planning for future education for your children or grandchildren, or you are planning to further your own education, every dollar saved can add up over time to make a huge impact in the future” added Cordova.

A 529 College Savings Plan can be opened with as little as one dollar and can be used for qualified expenses at colleges, universities, vocational or trade schools nationwide. To learn more about The Education Plan® or to begin saving today, visit TheEducationPlan.com.

 

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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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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.

Ugift is a registered service mark of Ascensus Broker Dealer Services, LLC.

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

All other marks are the exclusive property of their respective owners.

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