Celebrate Summer, National 529 Day by Investing in Education Savings

For Immediate Release
Contact: Joanie Griffin

Santa Fe, NM – May 9, 2022 – Summer is fast approaching, and students will soon be advancing to the next grade level. As students end one school year and look forward to the next, it’s a great time to plan for the coming years and invest in a college savings plan through The Education Plan®.

“The next school year approaches fast, bringing students a year closer to graduation,” 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 student is graduating from kindergarten or their senior year of high school, it’s perfect timing to consider putting money into a savings plan for higher education.”

Starting a college savings plan is a smart way for students of any age to better prepare for college expenses. “Saving for a longer period of time by contributing early and regularly, even just small amounts adds up in the long term through compounding to build savings.”

The end of the school year isn’t the only reminder for families to open a 529 plan. May 29 is also National 529 Day, emphasizing the importance of investing in a college savings plan. 529s can be used for four-year or community colleges, career and technical schools, and registered apprenticeships. They can also be used for non-tuition expenses such as room and board, fees, books, and computers.

With the rise in college expenses, starting a 529 plan has become increasingly crucial in paying for higher education. According to CollegeBoard Trends in Higher Education 2021, the average yearly cost of attending a public in-state university is more than $22,000—approximately $88,000 for a four-year education. The average bachelor’s degree student borrows around $29,000, and the costs continue to increase every year. CNBC estimates that the cost of college has increased more than 25% within the last 10 years.

The Education Plan® is easy to set up and start saving. While regular contributions provide the biggest impact on account growth long-term, any contributions that fit into your budget will make a difference. Family and friends can also give a gift contribution to your 529 account through a one-time gift or a recurring contribution.

To learn more about the Education Plan®, visit TheEducationPlan.com 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.