The costs of higher education continue to increase. A 529 college savings plan is the ideal way for
families to save for education costs now so there is less student debt in the future. Students can
use their 529 education savings plan to pay for a traditional four-year university degree, community
college, or trade school.
The Education Plan provides many federal and state tax-advantages for New Mexico's families. New
Mexico is just one of four states allowing a full state income tax deduction for contributions to
the 529 Plan. Contributions grow tax-free, and future withdrawals are also tax free as long as they
are used to pay for qualified expenses including tuition, room, meal plans, books, supplies,
computers, and fees.
Studies show if a family has 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.
For more information about The Education Plan, go to TheEducationPlan.com.
For more information about the NJHS Outstanding Achievement Award, go to www.njhs.us/OAA.