Santa Fe, NM, Dec. 21, 2021 (GLOBE NEWSWIRE) -- As the end of the year rapidly approaches, The Education Plan® 529 college savings plan encourages parents and grandparents to take any available funds and invest now to save for future education for their loved ones.
“529 college savings plans could be one of the best kept secrets,” said Carolyn Fittipaldi, Acting Executive Director of the Education Trust Board of New Mexico, the state agency that administers The Education Plan®. “529s are a great investment tool to save for college, providing tax deferred growth, tax deductions from some state income taxes and tax-free withdrawal when the funds are used for qualified education expenses.”
529 plans can be used to fund any loved ones’ future college expenses and also may be used to fund one’s own education. 529 funds can be used to pay for post-secondary education, including professional and trade schools, community colleges, as well as four-year universities.
“Whether you’re saving on behalf of a child, a grandchild, a loved one or even for yourself, investing in higher education is always a smart choice,” added Fittipaldi.
Funds saved through The Education Plan® can be used to pay for tuition and qualified expenses, including computers, software, room and board, and meal plans.
“2022 is right around the corner, so why not commit to saving for education now?” Fittipaldi added. “With the option to add to your account as your budget allows—and in any amount—you can begin saving without stress and make changes as your financial situation changes.”
To learn more about the Education Plan®, visit TheEducationPlan.com or call 1(877) 337-5268.
