End of School Year is the Perfect Time to Save for Your Child’s Education


End of School Year is the Perfect Time to Save for Your Child’s Education


- min read

Layout canvas

The end of the school year brings the next chapter in your child’s education one step closer. Whether that next chapter is grade school, high school, or even college, it’s never too late or too early to start saving for your child’s education. The Education Plan, a 529 college savings plan, is a great way to help pay for future higher education expenses.

The costs of higher education continue to increase. A 529 college savings plan is the ideal way for families to save for education costs now so there is less student debt in the future. A 529 education savings plan can be used to pay for a traditional four-year university degree, community college, or trade school. 

The Education Plan provides many tax advantages for families. Contributions grow taxfree, and future withdrawals are also tax free as long as they are used to pay for qualified expenses including tuition, room, meal plans, books, supplies, computers, and fees.

"Getting started with a 529 Plan is a simple process," said Carolyn Fittipaldi, Marketing Director for The Education Plan. "Parents, relatives, and family friends can open The Education Plan for as little as $1. You can even open one for yourself.” 

Fittipaldi continues, “Plan owners have the flexibility to contribute one time, monthly, or whatever time frame fits into their budget and goals. There are even some employers who allow contributions through their payroll system. No matter how you contribute, the most important thing is to not wait.” 

Another advantage offered by The Education Plan is that anyone can contribute to a beneficiary’s existing 529 account. It’s the perfect birthday, graduation or holiday gift that will help a loved one pay for future higher education expenses. 

Studies show if a family has as little as $500 saved for college, a child is three times as likely to go to college and four times as likely to graduate. 


Recent Articles

A College Savings
Award Program

The deadline to apply for the Saving for Success Award is December 21, 2022.


Ready to get started?
We can help!




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.