Give the Gift of Education This Holiday Season

For Immediate Release
Contact: Joanie Griffin

During the giving season, consider a gift to a 529 plan rather than buying tangible holiday gifts. The Education Plan®, 529 education savings plan is a tax-advantaged savings account that can be used to pay for education expenses at accredited colleges, universities, trade schools, professional schools, and K-12 throughout the United States. Consider opening an account or making a gift contribution to an existing account with The Education Plan®. With the rising costs of higher education and the increase of student debt nationally—it is more important than ever for families to start saving early and contribute regularly.

529 plan earnings are tax-free and withdrawals for qualified expenses are also tax-free. And in some states, the contributions are deductible on state income tax. The plans also offer flexibility, allowing funds to be used for a variety of qualified education expenses including tuition, room and board, books, fees and computer equipment at eligible educational institutions nationwide and even some international schools. Funds may also be used to pay for K-12 tuition and apprenticeship expenses.

To make gifting even more convenient, The Education Plan® offers flexible contribution options. Anyone can open an account at any time and contributions can be made through a one-time gift or regular automatic contributions. While regular contributions provide a great impact on account growth long-term, any contributions that fit into your budget will make a difference. Family and friends can also give a gift contribution into your 529 account through a one-time gift or a recurring contribution. Studies have shown with as little as $500 saved for college, a child is three times as likely to go to college and four times as likely to graduate.

"We understand that every family's financial situation is unique, which is why we accommodate multiple contribution options," said Natalie Cordova, Executive Director at The Education Plan®. "Even a small gift can make a lasting impact with compound interest and the gift of education lasts a lifetime."

A 529 savings plan is an ideal education savings option, as families and students have flexibility in the way they use the funds for future education. By offering a tax-advantaged 529 savings plan, The Education Plan® aims to alleviate the financial burden of paying for future education and empowers families to invest in their children's future.

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For more information about The Education Plan, call 1.877.337.5268 or view the Plan Description and Participation Agreement, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.

Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You also should consult a financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 plan(s), or any other 529 plan, to learn more about those plan’s features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The Education Plan is administered by The Education Trust Board of New Mexico. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-today operations, including investment advisory, recordkeeping and administrative services. The Education Plan’s portfolios invest in: (i) mutual funds; (ii) exchange traded funds; and/or (iii) a funding agreement issued by New York Life. Investments in The Education Plan are not insured by the FDIC. Units of the portfolios are municipal securities and the value of units will vary with market conditions.

Investment returns will vary depending upon the performance of the portfolios you choose. You could lose all or a portion of your money by investing in The Education Plan depending on market conditions. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.

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The Education Plan® and The Education Plan® Logo are registered trademarks of The Education Trust Board of New Mexico used under license.

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Not FDIC-Insured. No Bank, State or Federal Guarantee. May Lose Value.