Skip to main content

529 Basics

A 529 Plan lets you save money for post-secondary education, like college, vocational school, professional or graduate school.

Anyone can open a 529 Plan

  • Parents

  • Grandparents, relatives and friends

  • Anyone who wants to support a loved one’s future education

529 Plans are flexible!

Find out more

1 The Plan is neither FDIC insured nor guaranteed and may lose value.
2 When withdrawals are used for other purposes, the earnings portion of the withdrawal is subject to federal income taxes and any applicable state income tax, as well as an additional 10% federal tax and the recapture of all previous New Mexico tax deductions taken for contributions to an account.