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What is a 529?
A 529 plan is a tax-advantaged tool to save and grow money for future education expenses. 529 plan savings have the opportunity to be invested and benefit from the potential of tax-free, compounding growth over time. Additionally, some states offer state income tax breaks on contributions, including New Mexico. Anyone can open and contribute to a 529 account for anyone else, including grandparents, relatives and friends. Learn More >