ALBUQUERQUE, NM – May 2, 2023 - New Mexico Community Trust (NMCT) is proud to announce the recipients of the first annual Saving for Success Award Program in New Mexico. The Saving for Success Award is a new college savings award program administered by NMCT with a mission to make higher education more affordable and accessible, especially to students in New Mexico who have financial need.
The goal of the Saving for Success Award program is to help prepare eligible K-8 students in New Mexico for future success in higher education through financial literacy education, encouragement, and an award of $1,000 in initial value invested in a 529 college savings account with The Education Plan®, New Mexico’s 529 college savings plan. 19 students in New Mexico will receive a Saving for Success Award during this first award cycle. The award application asked students about school achievement, honors and awards, community involvement, and higher education goals.
Initial funding for this award program was provided by the Jack Beaty Educational Scholarship Foundation. The foundation was created to carry out the final wishes of long-time New Mexico businessman and political leader Jack Beaty to fund college expenses for low-income New Mexicans.
“The Saving for Success Award has been an impactful partnership between NMCT and the Education Plan,” said Randy Royster, President & CEO of NMCT. “This award program has created an opportunity for students and parents to start saving for college at a young age, and we are excited to acknowledge the 2022-2023 recipients.”
Some of the amazing award recipients across New Mexico include:
- Zachary Archuleta | Chamisal, NM | 1st Grade
- Alyson Archuleta | Chamisal, NM | 7th Grade
- Isaiah Rodriguez | Brimhall, NM | 8th Grade
- Damian Espino Scammell | Los Alamos, NM | 7th Grade
- Darien Hunt | Los Lunas, NM | 7th Grade
- Ella Wiggins | Albuquerque, NM | 7th Grade
- Jaylin Medrano Medina | Albuquerque, NM | 8th Grade
- Leah Boss | Santa Fe, NM | 8th Grade
- Laney Duran | Albuquerque, NM | 1st Grade
- Julia Herrera | Albuquerque, NM | 3rd Grade
Hear from some of the recipients:
“Thank you, New Mexico Community Trust, for investing in my future,” said Laney Duran.
“I was very excited when I heard I received this award,” said Damian Espino Scammell. “This will help me achieve my goal of going to college and getting a good education. This will also help me achieve my dream of eventually helping to provide the best life for my family. I hope I will be able to give back to others in need when I get older just like you are doing for me. Thank you so much for this scholarship!”
“We are thrilled 19 young students across New Mexico are receiving this award to help with their dream of attending college,” said Natalie Cordova, Executive Director, New Mexico Education Trust Board, the organization that administers The Education Plan®.
For more information, visit SavingforSuccessNM.com. If you are interested in helping to fund the Saving for Success Award, please visit nmctrust.org/saving-for-success-award.
New Mexico Community Trust (NMCT) is a tax-exempt public charity created to work in areas not serviced by existing community foundations. NMCT provides financial, investment, donor and grant management services for communities across the state along with back-office support for multiple community foundations in the state. For more information, visit NMCTRUST.org.
The Education Plan® is New Mexico’s 529 Education Savings Plan administered by the Education Trust Board of New Mexico. It’s a tax-advantaged way to save for education expenses, including tuition, room and board, books, fees and computer equipment at a four-year university, community college, professional school, or trade school. The money may be used at schools across the US, both traditional and online. Accounts grow tax-free and withdrawals are tax-free if used for qualified higher education expenses. For New Mexico residents, there is an income tax deduction on the full amount of any contributions to an account with The Education Plan. Anyone can open an account for anyone, and you do not need to be related to the beneficiary. For more information, visit TheEducationPlan.com.