Help Desk

Have a question?

Not sure where to get started? Looking for a plan form or document? We’re here to help. You’ll find answers to common questions, forms and documents and links to helpful information. If you still can’t find what you’re looking for, give us a call We’re here for you.

New Mexico's 529 College Savings Plan

Frequently Asked Questions

Get answers to frequently asked questions about 529 plans, The Education Plan, and ways to save for education in this section.

What is a 529 plan?

A 529 plan is a tax-advantaged education investment plan designed to grow savings for future education expenses for a specified beneficiary. 529 plans offer unique benefits and features that make them a very appealing strategy for education planning that can significantly reduce the burden of student loan debt.

Who can be an account holder?

Any person over 18 with a valid Social Security number may open an account. The account holder selects the investment options, the beneficiary, and requests the distribution of funds.

Who can be a beneficiary?

Any person with a valid Social Security number can be the beneficiary of a 529 plan. The beneficiary and the account owner don’t need to be related.

An account owner can open a 529 plan for themselves or a family member or friend. An account owner may change the beneficiary at any time. There are no tax consequences if you change the beneficiary to a family member of the current beneficiary. However, you should consult with your tax professional regarding your specific circumstances.

VIEW ALL FAQS

Forms and Documents

There’s a lot to learn about saving for college and The Education Plan®. We understand that the process of getting started and in particular, selecting investment options, can be overwhelming and confusing. We’re eager to help make it as easy as possible.

From opening an account to making a withdrawal, we’ve gathered all the important information and necessary forms here for you to access online.

Glossary of 529 Terms

Qualified educational expenses, asset class, compounding interest. Investing in a 529 plan comes with a lot of new and sometimes confusing terms for those who aren’t financial professionals. We’ve gathered a glossary of terms you can turn to when you come a cross a term you’re unfamiliar with.

VIEW THE GLOSSARY

Contact Us

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We're available Monday to Friday 8 a.m. to 7 p.m. MT

BY FAX

We're available Monday to Friday 8 a.m. to 7 p.m. MT

BY MAIL

Standard U.S. mail:
The Education Plan
PO Box 219331
Kansas City, MO 64121-9331


Overnight Mail:
The Education Plan
920 Main Street, Suite 900
Kansas City, MO 641052017

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

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VIEW LEGAL DISCLOSURE

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.