Application Deadline Approaching for Saving for Success Award Program

For Immediate Release
Contact: Joanie Griffin

ALBUQUERQUE, NM – November 30, 2022 – The application deadline is soon approaching for the Saving for Success Award Program—a new college savings award program administered by New Mexico Community Trust 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 be given an award of $1,000 in initial value invested into a 529 college savings account with The Education Plan®, New Mexico’s 529 college savings plan. The application period will close on December 21, 2022, and award recipients will be notified in February or March of 2023.

Through the program, up to 50 students will receive a Saving for Success Award during the first award cycle. Initial funding for this award program was provided by the Jack Beaty Educational Scholarship Foundation, which was created to carry out the final wishes of long-time New Mexico businessman and political leader Jack Beaty to fund college expenses for low-income New Mexicans.

“Higher education is linked to greater career opportunities, financial stability, and brighter futures, and we’re honored to partner with New Mexico Community Trust and greatly appreciate the Jack Beaty Educational Scholarship Foundation initial funding to make higher education more accessible for New Mexico’s students,” said Natalie Cordova, Executive Director of Education Trust Board of New Mexico, the state agency that administers The Education Plan, 529 college savings plan.

“Saving for higher education is one of the vital ways in which parents can set their children up for future success,” said Randy Royster, President & CEO of New Mexico Community Trust. “Through the Saving for Success Award program, our goal is to encourage early college savings and to help families that might not otherwise be able to start saving to get a jumpstart on funding their higher education expenses. Together, we can help to equip the youth of New Mexico for increased future success.”

Funds invested into a 529 plan can be utilized to pay for qualified expenses at universities, community colleges, trade schools, or vocational schools across the United States.

To apply, students will submit their school achievement, honors and awards, community involvement, and higher education goals.

For more information and to apply, visit If you are interested in helping to fund the Saving for Success Award, please visit

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

The Education Plan® is New Mexico’s 529 Education Savings Plan administered by the Education Trust Board of New Mexico. 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 education expenses. For New Mexico residents, there is an income tax deduction on the full amount of any contributions to an account with The Education Plan. Anyone can open an account for anyone and you do not need to be related to the beneficiary. For more information, visit


For Media Inquiries

Use the form below to contact our team.



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

Privacy & Cookie Policy

Phone: 1-877-337-5268
We're available Monday to Friday 8 a.m. to 7 p.m. MT


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.