Santa Fe, NM, Dec. 17, 2020 (GLOBE NEWSWIRE) -- 2020 has been a challenging and unpredictable year for nearly everyone. With the New Year just ahead, many of us are looking forward to a better 2021 and beyond.
“The beginning of a new year is an opportunity to look to the future,” said Ted Miller, Executive Director of the Education Trust Board of New Mexico, the state agency that administers The Education Plan®. “Planning ahead is one of the most important steps in setting a course for the future. This New Year, we encourage you to look beyond just the next 365 days. Saving for future education costs is a positive step for you and your family.”
“A 529 college savings plan is for everyone—regardless of how much you are able to save at first,” added Miller. “Studies have shown that students who have as little as $500 saved for college are three times as likely to attend college and four times as likely to graduate. Your future thinking now can vastly improve the employment and earning opportunities available for your children or grandchildren in the future. We encourage everyone to start 2021 with a new philosophy and renewed dedication to saving for education.”
A college savings plan with The Education Plan® can be opened with as little as $1 and you can make contributions whenever you choose. Any contributions that fit with your goals and budget will make a difference. Contributions are tax-deductible on some state income tax returns and grow tax-free, and there is no tax when funds are used for qualified education expenses.
Funds can be used to cover tuition, room and board, meal plans, computers and software at universities, community colleges, professional schools and trade schools.
To learn more about the Education Plan®, visit theeducationplan.com or call 1(877) 337-5268.