Santa Fe, NM, June 18, 2021 (GLOBE NEWSWIRE) -- The Education Plan®—New Mexico’s 529 college savings plan—has received national recognition as one of the top plans in the country. Receiving a perfect score (5/5) for residents and a near perfect score (4.5/5) for non-residents on the SavingForCollege.com list of Top-rated Direct-sold 529 plans, The Education Plan® received this designation based on its “performance, costs, features and reliability.”
“We’re honored to be named among the top-rated college savings plans in the nation,” said Ted Miller, Executive Director of the Education Trust Board of New Mexico, the state agency that administers The Education Plan®. “We believe that higher education improves the lives of our children and ultimately benefits the citizens and the economy. Our mission is to make post-secondary education more attainable by offering a flexible, low-cost, tax-efficient way to save for the costs of higher education.”
The Education Plan® can be used at vocational or trade schools, professional schools, colleges and universities for qualifying expenses, including tuition, housing, meal plans, books, supplies, computers and fees.
In addition to limiting the possibility of student loan debt for beneficiaries, plans have a wide range of tax benefits. Contributions are tax-deductible on some state income tax returns, and earnings grow free of state and federal taxes. Additionally, withdrawals are tax-free when used to cover qualified education expenses.
To learn more about The Education Plan®, visit TheEducationPlan.com or call 1-877-337-5268.