For Immediate Release

Contact: Joanie Griffin

505.261.4444

jgriffin@sunny505.com

With costs of higher education rising and student debt posing a burden on many families, a 529 college savings plan through is a meaningful, future-looking holiday gift for loved ones, family members, and children.

According to CollegeBoard Trends in Higher Education 2021, the average cost for tuition and room and board at an out-of-state public university is approximately $40,000 per year. For those attending in-state public universities, the cost is over $27,000 per year. Whether in-state or out-of-state, these rising costs can create a barrier and keep students from receiving the higher education they desire; however, The Education Plan® 529 college savings plan offers an easy, tax-advantaged way to save for higher education.

“Whether planning for your children, grandchildren, or a loved one, a 529 savings plan is a thoughtful gift that will make a positive impact for your loved ones,” said Carolyn Fittipaldi, Acting Executive Director, Education Trust Board of New Mexico. “By gifting a college savings plan and adding to it as you’re able, you’re paving the way for a more successful future. 529 college savings plans can be utilized at both universities and trade schools.”

The Education Plan® can be opened with a little as one dollar and added to over time. It’s also a great option for other relatives to contribute to as well. In addition to making a thoughtful holiday gift, contributions are tax-deductible from some state income taxes and grow tax-free. There also is no tax when funds are used for qualified education expenses. The plan can be used to pay for traditional college, community college, professional school or trade school tuition, as well as other expenses including computers, software, room and board and meal plans.

“Instead of buying toys or clothes, consider investing in a child or loved one’s future—or in your own,” added Fittipaldi. “It’s never too early or too late to start investing. Every little bit saved can help to cover education costs and can open doors to future career opportunities and financial stability for the beneficiary.”

For more information on The Education Plan, go to theducationplan.com or call 1 (877) 337-5268