Scholar's Edge (Advisor-Sold)

Scholar's Edge is a 529 plan available in New Mexico that offers families a unique approach to saving for higher education expenses. One distinctive aspect of this plan is its focus on self-directed investment options, allowing account holders to have control over the investments in their accounts. This plan offers a variety of investment options, including individual fund options, giving account holders the flexibility to create a customized investment portfolio. It provides tax advantages, such as tax-free growth and tax-free withdrawals for qualified education expenses. Additionally, New Mexico residents may be eligible for a state income tax deduction for contributions made to the plan, maximizing their savings potential.