The Education Plan (Direct-Sold)

The Education Plan College Savings Program is a 529 plan available in New Mexico that provides families with a comprehensive solution for saving for higher education expenses. This plan is sponsored by the State of New Mexico and managed by Ascensus College Savings, a leading administrator of 529 plans. The plan offers a range of investment options, including age-based portfolios and individual fund options, allowing account holders to tailor their investments to their specific goals and risk tolerance. It provides tax advantages, such as tax-free growth and tax-free withdrawals for qualified education expenses. New Mexico residents may also be eligible for a state income tax deduction for contributions made to the plan, further enhancing the savings potential.